Tomatoes fuel fresh fears of food inflation spike in October
New Delhi: Tomato prices are once again raising concerns about a potential spike in food inflation this month, as vegetable inflation surged to a 14-month high of 36% in September, driving food inflation for consumers up to 9.2%. With fewer tomatoes arriving at mandis and festive season demand rising, households are feeling the pinch of soaring prices.
Last Tuesday, Umakant, a vegetable vendor in South Delhi’s Prakash Mohalla, who buys his stock from the Okhla Mandi, noticed several customers walking away due to the sharp increase in vegetable prices. Tomatoes, in particular, were being sold at ₹120 per kg. Retail tomato prices had jumped by 233% in July compared to June, but saw a 23% drop in August, providing some respite. However, excessive rainfall in September has presented a new challenge, as mandi arrivals have more than halved since August.
Year-on-year vegetable inflation reached 36% in September, the highest in 14 months. The situation for tomatoes has worsened since early October, with prices exceeding ₹100 per kg in many cities across the country. Meanwhile, prices of onions and potatoes continue to remain high, further straining household budgets.
On October 7, the Centre stepped in to address the issue, launching tomato sales at ₹65 per kg in Delhi NCR. The Ministry of Consumer Affairs termed the price hike “unwarranted,” pointing to the “possible role of market intermediaries” amidst the high-demand festive season.
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Trump’s fresh threat to bomb Iran amid reports of deal to end war
Washington (PTI): US President Donald Trump on Wednesday threatened Iran with more bombing if it doesn't reopen the Strait of Hormuz, amid a report that the warring sides were nearing an agreement to end the war.
US media outlet Axios reported, quoting US officials and two other sources, that the US and Iran were getting close to a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations.
The US expects Iranian responses on several key points over the next 48 hours, Axios reported, adding that nothing has been agreed yet. This was the closest the parties had been to an agreement since the war began.
"Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran," Trump said in a post on Truth Social.
"If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," Trump said.
According to Axios, the deal would involve Iran committing to a moratorium on nuclear enrichment, the US agreeing to lift its sanctions and release billions in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz.
It said many of the terms laid out in the memo would be contingent on a final agreement being reached, leaving the possibility of renewed war or an extended limbo in which the hot war has stopped, but nothing is truly resolved.
