Peaks, spikes and food price worries in India
This chart traces the trends of the wholesale prices of ten major food and crop groups in India. The data is from the Office of the Economic Adviser to the Government of India, which is a part of India’s Ministry of Commerce and Industry.
The cereals group has from early 2012 risen relatively more steeply than it has from the beginning of the period described by the chart. The pulses group has gone through three peaks (late 2006, late 2009-early 2010 and mid-2012) that have led to successively higher base levels. (In the panel below, these groups are coloured to distinguish them from the rest.)
The eggs, meat and fish group has accelerated from about mid-2009, rising fairly steeply for about a year-and-a-half and then steadily thereafter. The vegetables groups shows the distinct cyclical nature of prices, with nine peaks erupting from a steady upward trend (the last being in mid-2012).
The other groups – fruit, milk, spices, tea and coffee – help us understand the causes for the overall rise in food price inflation experienced by the consumer and also the changing market prices for crops in the fibres (6 components) and oilseeds (11 components) groups. [You can get a zipped set of these charts here.]