India’s Food Inflation to Climb on Labor, Oil, Gulati Says
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Food-price inflation in India, Asia’s third-largest economy, may accelerate in the second half as farmers are paying 20 percent more to grow crops, according to the commission that helps set minimum farm-product prices.
“The cost of production is going up very fast,” Ashok Gulati, chairman of the Commission for Agricultural Costs and Prices, said in a telephone interview from New Delhi yesterday. “The labor cost has gone up dramatically in the past one year and energy costs are also going up.”