Milk Price Hike: Even though the prices of food items have come down. But the common people are not getting relief from the inflation of milk and products made from it. According to the figures of retail inflation declared for the month of May, there has been an increase in the inflation rate of milk and its related products in May as compared to April.
Inflation of milk is troubling
According to the data, the inflation rate of milk and its related products has reached 8.91 percent in the month of May, which was 8.85 percent in the month of April. Last year in May 2022, the inflation rate of milk and its related products was 5.64 percent. It is clear from these figures of the Ministry of Statistics that there has been an increase in the prices of milk and its products in the month of May as compared to April.
RBI has also expressed concern
RBI’s Monetary Policy Committee meeting was held for three days from 6 to 8 June 2023. In the resolution issued by the committee on June 8, the RBI committee had also expressed concern about the prices of milk. RBI’s MPC said that milk prices will remain under pressure due to shortfall in supply and sharp rise in fodder prices. That is, it is clear that even though the retail inflation rate is coming down, RBI itself is also showing the possibility of increase in the prices of milk.
Inflation of milk made it difficult
If you look at the inflation of milk, two liter pack of Amul Fresh was available for Rs.88 per two liter on June 30, 2021, now it is available for Rs.108. Means 23 expensive. Amul’s buffalo milk, which was available at Rs 59 per liter on June 30, 2021, is getting 19 per cent costlier at Rs 70 per litre. Amul’s cow’s milk was available at Rs 47 per liter for the first one and a half years, which is now available at Rs 56 per litre. Means about 20 percent costlier. In the last year and a half, Mother Dairy and Amul have increased the price of milk five times.
effect of rising milk prices
The figures of retail inflation are telling that the inflation rate of milk and its related products has increased. So due to costlier milk prices of curd, lassi, ghee, paneer, khoya, buttermilk have seen a jump. Mother Dairy has reduced the size of the package of buttermilk. Due to expensive milk, sweets and ice cream have also become expensive. FMCG companies making biscuits and chocolates have also increased the prices of their products. RBI has said that due to shortage in supply, the pressure on the prices of milk will remain, which means that the trend of costlier products made from milk may continue.
cut down on milk consumption
The inflation of milk has spoiled the budget of the common people. People have cut down on the consumption of milk after this nutritious diet became expensive for children and elders. Recently, in a survey, it has been found that out of every 10 families, there are 4 such families who have reduced the consumption of milk.
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