Bhubaneswar: West Bengal CM Mamata Banerjee’s Potato embargo policy to the State and the untimely rain had propelled Odisha to become the top pricey state in the country.
The December 2024 Inflation data released by Centre on Monday has revealed this shocker.
As per the MOSPI release, the rural inflation (Consumer Price Index) in the State has inched up to 7.79% in Dec 2024 vis-a-vis 7.44% in Nov 2024. The national average of the rural CPI in Dec 2024 had been lower at 5.76%.
The urban CPI for the State in Dec 2024 was measured at 4.75% - 10th most pricey after Bihar, Uttarakhand, Chhattisgarh, Karnataka, Kerala, UP, Assam, Jharkhand, Tamil Nadu etc.
ODISHA PRICE WOES
As per the data available, the wholesale prices of rice in December 2024 had risen by 10.6% vis-a-vis Dec 2023. The data shows the following
- Rice – 2023 – December – 3130/q
- Rice – 2024 – December – 3462/q
- Except Delhi and UP, which are non-rice consuming states, Odisha has the highest price rise among major rice consuming states.
- Potato – 2023 – December – Rs 1669/q (wholesale prices)
- Potato – 2024 – December – Rs 3350/q (wholesale)
- Price rise - 100.72%
- Though the price rise in Odisha has not been the highest in the country, the fact is in potato price per quintal, Odisha had the highest wholesale price after Kerala’s Rs 3974/q in December.
- But when it comes to inflation rise, Kerala clocked only 26% rise, because in 2023 the price was 3150/q.
- Though the prices of many vegetables like Brinjal, Cauliflower etc remained on lower side in Dec 2024, the prices of potato, rice, and edible oils catapulted the State to top pricey in the country.
INDIA INFLATION
As per the MOSPI data, the year-on-year (y-o-y) consumer price index posted a 5.22% growth, with rural inflation rise estimated at 5.76% and urban – 4.58%.
A look at the food price inflation shows the following.
- All India Consumer Food Price Index (CFPI) posted 8.39% growth in prices in December 2024.
- The price rise in food inflation in Dec 2023 was higher at 9.53%
- The above data shows softening of food inflation in the country.
- The corresponding food inflation rate for rural and urban are 8.65% and 7.90%, respectively.
- A look at the graph below shows that the CPI (General) and food inflation in December 2024 is the lowest in last four months.
- Moreover, it shows, the inflation rate in Dec been the 3rd lowest in year 2024, after the lowest of 5.44% and 5.66% in July and Aug 2024, respectively.
- It also reveals a fall in urban house rental prices as the y-o-y Housing inflation rate for the month of December 2024 was 2.71% vis-à-vis 2.87% in the month of November 2024.
TOP 5 PRICEY COMMODITIES
- Peas (prices up 89%)
- Potato (68.23%)
- Garlic (58.17%)
- Coconut oil (45.41%)
- Cauliflower (39.42%)
TOP CHEAPER COMMODITIES
- Jeera (minus 34.69%)
- Ginger (minus 22.93%)
- Dry Chillies (minus 10.32%)
- LPG (minus 9.29%)
OTHER COSTLIER COMMODITIES
- Rice and wheat prices up by 6.8% vis-a-vis Dec 2023
- Oils and fats up 16.38%
- Prices of fruits have also risen up.
