Inflation remains low in last 7 years: Govt

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March 16, 2021 4:23 PM

The government on Tuesday informed Parliament that inflation has remained low in the last seven years - except for a spike in some items - and the government is taking steps to bring it further down.

The CPI-AL was at 1010 and CPI-RL at 1016 in February 2020.The CPI-AL was at 1010 and CPI-RL at 1016 in February 2020.

The government on Tuesday informed Parliament that inflation has remained low in the last seven years – except for a spike in some items – and the government is taking steps to bring it further down. Minister of State for Finance Anurag Singh Thakur, during Question Hour in the Rajya Sabha, said food items in the consumer price index (CPI) are showing a month-on-month decline. Commodities such as cereals, meat and fish, egg, vegetables and pulses have declined during January-February.

“Overall, inflation has remained low in the last seven years. But in some items, there was a rise in prices due to supply constraints because of COVID-19 and a rise in demand,” he said, responding to a supplementary query. In 2013-14, there was double-digit inflation. In comparison to that, now inflation is less. However, the government is making efforts to bring it further down, he added.

Thakur said the government took measures to reduce the import of oilseeds and pulses by boosting production, giving a higher minimum support price to farmers.

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