Price rise to hurt during festive season

MUMBAI: Citizens will need to watch their spending this festive season. The prices of eight essential commodities like condiments & spices, pulses, wheat, sugar, edible oil, tea, coffee and milk have risen by 18% on an average from September 2011 to September 2012 while per capita income of an average Indian went up by 10%, according to an analysis carried out by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Price rise coupled with increased demand is likely to hurt the common man during the festive seasons, said ASSOCHAM.

"The good demand due to upcoming festivals such as Dussehra and Diwali, inflation has taken several essentials like spices, edible oil and milk out of the common man's reach", said Mr. D.S. Rawat, Secretary General, ASSOCHAM.

While prices of spices, pulses, wheat, sugar have become dearer by 30%, 29%, 19% and 18% respectively, other essentials like edible oil, tea, coffee and milk saw upward moment in the range of 11%, 10%, 9% and 7% respectively.

Commodities like various types of edible oil have become dearer by 25% to 65%. In addition, prices of milk, ghee, onion, maida, wheat and other items have risen by a minimum of 10% to a maximum of 60%.

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