Sugar prices accelerate ahead of festive season as jaggery, sweets turn costlier
Sugar prices accelerate ahead of festive season as jaggery, sweets turn costlier
Sugar prices are rising at a faster pace just as India enters the festive season, with the commodity recording a 2.7 percent month-on-month increase in July, more than three times the 0.9 percent rise in overall consumer prices
India’s sugar prices rose 2.7% in July.
Jaggery and sweets also seeing price hikes.
Price hikes before India’s festive season.
The pressure is also spreading to sugar-linked products, with jaggery and prepared sweets recording sustained price increases in recent months, potentially adding to household food bills during a period of seasonally stronger demand.
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Month-on-month inflation in sugar accelerated sharply to 2.73 percent in July from 0.63 percent in June and 0.44 percent in May. In April, prices had increased just 0.09 percent from the previous month.
The acceleration is increasingly visible in annual inflation as well.