Gro's India Food Price Inflation Index tracks food prices weighted by consumption spending and provides real-time tracking of inflation as experienced by the Indian consumer. The index, which updates weekly, combines 17 national price series that aggregate hundreds of local prices from India’s Department of Agriculture and Cooperation. The India Food Price Inflation Index can be used with Gro’s India Retail Price Volatility Indices to track an item's realized volatility over time and permit comparisons between items.
Customers use this index to
Why It Matters
India is an increasingly important player in global agricultural markets. Understanding food inflation is especially important because food accounts for a large share of total household expenditures.
Gro developed this index in response to the 2021 farmer protests about the government’s planned reforms to agricultural policy, in order to measure food inflation on a real-time basis and capture price volatility per product.