ANZ Research

Dec 17, 2024 | anz.com | Dhiraj Nim |ANZ Research |Sharon Zollner |Richard Yetsenga

High food inflation is a major concern in India, with the weather taking much of the blame. However, the multiyear food-price surge goes beyond just rainfall or heatwaves. India’s food inflation episodes warrant a broader lens, considering farm input costs, per capita income growth, food demand, and logistical costs. These factors are more predictable and intricately linked to food inflation trends – and even suggest food inflation may fall in 2025.