Reserve Bank of India (RBI) stated in a latest monthly update that inflation in spices moderated on a sustained basis since April 2024 and slipped into deflation since July after recording double-digit inflation for a 22-month period till March 2024. The recent decline was led by jeera and dry chillies, on account of higher spices production (5.5% as per 3rd AE in 2023-24 over 2022-23).

Powered by Commodity Insights