Need for Farm Price
10th Month of slowing inflation
October inflation rates ease even as core inflation still sits at 13.3%. What can we expect this festive season? click this link to share this newsletter with other
AGRIC PRODUCE OVERVIEW
Let us jump right into it, but first some context to where we are coming from as regards inflation. Inflation could have been dropping, but we need not explain that if this rate is not 0. It means there is an increment from previous more, only not as high as last month. Check our previous newsletter if interested in that.
The benchmark ceiling by the apex bank for inflation is 9% in which for over 6 yrs, as an economy we are yet to enter within that bracket range. Inflation means an increase in price and the reason for our concern. The festive season is now far approaching, demand goes up. more corporate demand, we hope the inflation rate remain can continue to drop and more likely while interest rate might not be prepared for this.
Should the 10 months drop now bring more relief, yes and no first the yes? If inflation drops that means the prices are not astronomically increasing like before, but still inflation always has a limit, as it responds to the demand and supply forces. So as people pocket not been able to buy what they use to buy, inflation has to fall. But No it brings no relief especially in this case, many will say they don’t even feel the 10th-month consecutive drop because the margin of the drop is insignificant, and remember their inflation of any number is still an increase
With all this inflationary pressure there is a need for another kind of supply chain, the one which puts the supply power to whom it suppose to be with. (the producer).
That is what we are building at DayDone