Aurangabad, March 10:
Prices of essential commodities have skyrocketed in the city. The rising inflation has forced citizens to shell out more money on daily necessities. As a result, the monthly budget of the common man has collapsed. After edible oil, not only wheat, sorghum, semolina, flour but also groundnuts are being sold at inflated prices.
Why did wheat get expensive
Wheat from Madhya Pradesh, Gujarat, Rajasthan, Punjab and Haryana is being procured by the Central government. The Russia-Ukraine war has increased the demand for Indian wheat from some parts of the world. Flour stockists also started stockpiling wheat pushing up the price. Local wheat is selling at Rs 2,000 to Rs 2,600 per quintal.
Import of sunflower, palm oil closed
The war has cut off imports of sunflower oil from Ukraine. Also, imports of palm oil from Malaysia are being hampered. As a result, the price of palm oil has gone up to Rs 156 per liter, while sunflower oil has gone up to Rs 180 per liter.
Inflation will rise further
The effects of the Russia-Ukraine war were felt in all areas, from basic necessities to construction materials. If petrol and diesel prices go up now, freight costs will go up and inflation will rise again, said Tinku Khatod, merchant.