With new kharif arrivals, retail inflationary pressures should ease, according to the Finance Ministry.

The department of economic affairs said that domestic prices of some food items have increased in the wake of the rise in international prices . The report said that the global food system has been exposed to shocks in the form of global currency depreciation .

New Delhi, India (India), November 25, 2018: The new retail inflationary pressures are expected to ease with fresh kharif arrivals and lower input costs to consumers, according to a monthly economic survey released by the department of economic affairs in October.The department of economic affairs said that domestic prices of some food items have increased in the wake of the rise in international prices.In the current year, India's grain supply was limited by the unseasonal heatwaves and the southwest monsoon deficiency.However, export controls have ensured that the country's needs are fully satisfied.

A steady rise in tractor sales in September and October indicates improved moods and a planned increase in crop area sown, according to the UNDP Multi-Dimensional Poverty Index (MPI) published in October 2022, which shows that 41.25 crore Indians have fallen into multidimensional poverty in the last 15 years.India's record in reducing poverty has also led to a decrease in inequality in South Asia, with South Asia no longer being the most multidimensionally poor region.The paper also addresses the global outlook, inflation, food security, inequality, health and employment, and World and monetary policy.The research also found that food inflation was largely attributed to imported food products like oil and fats in the first five months of 2022, as shown by the consumer price index (CPI).Domestic seasonal changes have increased the price of vegetables, cereals, and their products since June 2022, causing an increase in food inflation, according to the department of economic affairs.

The US dollar has steadily increased against other currencies as a result of higher policy rates levied by the Federal Reserve to counter inflation.The report said that the global food system has been exposed to shocks in the form of global currency depreciation, which has also resulted in a global pullback of foreign exchange reserves to protect their values and avert market volatility.2022 argues that India's food supply has decreased, and that it may prove to be an outlier by taking proactive and preventive measures.The challenges of geopolitical instability and climate change have shifted the spotlight to the issues of fragility and over-dependence on a handful of countries or regions for global food security, according to the survey.Russia and Ukraine, according to the survey, are among the most important producers of essential agricultural commodities, including wheat, maize, sunflower seeds, and fertilisers.

The Black Sea acts as a critical supply and transit hub for food products from these countries to the rest of the world.The movement of food products from these countries to the rest of the world was impacted by the conflict, putting people's lives in jeopardy with the food industry in the Black Sea region, according to the department of economic affairs.With the upswing in economic growth in all segments, the overall employment situation has also improved, coping with the pandemic.According to the Periodic Labour Force Survey (PLFS), the urban unemployment rate among people aged 15 and over dropped from 12.6% to 7.6% in the quarter ended June 2021 to 7.6% one year later (quarter ending June 2022).

It further stated that private sector financial and non-financial balance sheets are stable, and that early signs of a new personal sector capital formation cycle are visible.

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