Relief on the Horizon: Above-Average Monsoon Forecast Boosts Food Price Outlook

  • The India Meteorological Department (IMD) predicts above-normal monsoon rainfall for 2024, bringing hope for a bountiful harvest.
  • This positive forecast comes after a year of concerns about inflation, particularly in food prices.
  • Increased rainfall is expected to lead to higher crop yields, potentially easing pressure on food prices.
  • Experts believe a good monsoon could lead to a further decline in food prices, offering much-needed relief to consumers.
  • The IMD predicts monsoon rains to be 106% of the long-term average, potentially boosting agricultural output.

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