Relief: Prices of potatoes, tomatoes and onions decreased by 31 percent in a month

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New Delhi|The prices of food items, especially vegetables and pulses, have declined significantly in the last one month. During this period, the prices of potatoes, onions and tomatoes have decreased by 31 percent. While this is expected to reduce the inflation figures for January, on the other hand RBI may also decide on reducing the repo rate in February. According to data from the Ministry of Consumer Affairs, the price of potatoes in the retail market was Rs 37 per kg a month ago, which dropped by 25 per cent to Rs 30 on Friday. Onion prices have fallen by 30 per cent, from Rs 51 to Rs 39. The biggest fall of 31 per cent has been in the price of tomatoes which has come down from Rs 45 to Rs 31.

The price of rice has come down from Rs 43.35 to Rs 42.78 per kg in a month, while chana dal has come down from Rs 94.16 to Rs 92.63. The price of arhar dal has come down from Rs 158.60 to Rs 152.64, urad dal from 124.07 to Rs 123.28 per kg, moong dal from Rs 114.30 to Rs 113.18 per kg.

Green vegetables have also started becoming cheaper in the retail market. While cabbage has come to Rs 10 per kg, spinach has come to Rs 15 per kg, green peas to Rs 50 per kg. Apart from these, green mustard and fenugreek along with carrots and radish are also being sold for Rs 15 to 25 per kg.

The Food Ministry said it is closely monitoring the prices and availability of essential food items to maintain a stable price regime. For this, steps like encouraging domestic production, import and export policies are being taken.

Unlike vegetables and pulses, the prices of edible oil are stable. While the price of mustard oil is stable at Rs 168.78 a month ago, soya oil is stable at Rs 143. Sunflower oil remains at Rs 154 per liter and palm oil at Rs 134 per liter.

When the retail inflation figures for January come in February due to falling prices of food items and vegetables, its impact will be visible on it. Retail inflation had declined marginally to 5.22 per cent in December. However, this is still higher than the RBI minimum level of four percent. Due to decline in inflation, RBI may decide to reduce the repo rate in its Monetary Policy Committee meeting to be held in the second week of February. The repo rate has remained stable at 6.5 per cent for two years. If the repo rate decreases, it will reduce higher loan interest rates.