Mokokchung, 24 August (MTNews): The Mokokchung Municipal Council (MMC) has significantly reduced tomato prices by almost half of its previous rate within its jurisdiction with the changes taking effect from Wednesday. This decision was implemented through an official order issued by Chumlamo Humtsoe, ADC & Administrator of MMC, in response to the declining tomato prices in the base market located in Assam.
The order states that due to a decrease in the rate of tomatoes at the base market in Assam, the price of tomatoes is now fixed at Rs. 70/- (Rupees seventy) only, down from the previous rate of Rs. 130/- per kilogram. This new rate will be effective immediately within the Mokokchung Municipal Council’s jurisdiction. The order also emphasizes that non-compliance with the fixed rate will result in penalties.
Meanwhile, Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), mentioned on Wednesday that vegetable prices in the country have begun to decrease and are projected to continue declining from September. The steep rise in vegetable and grain prices led to a retail inflation surge of 7.44 percent in July, the highest level in 15 months.
Governor Das expressed optimism, stating, “We anticipate a noticeable slowdown in vegetable inflation starting from September.” However, he acknowledged the possibility of global tensions negatively impacting food prices, while maintaining a positive outlook for grain prices.
Governor Das highlighted a reassuring trend of core inflation gradually receding over recent months, attributing it to the effectiveness of monetary policy transmission despite the elevated core inflation. “The frequent occurrences of recurring food price shocks pose a risk to the anchoring of inflation expectations, a process initiated since September 2022. We will remain vigilant about this,” Das said.