India expands daily price monitoring to 38 essential commodities

The Indian government will begin daily price monitoring of 16 additional essential food commodities from August 1, bringing the total to 38. This measure aims to stabilize prices through policy interventions. An updated ‘PMS Mobile App Version 4.0’ has also been launched to facilitate daily price reporting.

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The Indian government will start monitoring daily wholesale and retail prices of 16 additional essential food commodities from August 1 to help stabilize prices through policy interventions, according to Union Food and Consumer Affairs Minister Pralhad Joshi. Currently, the Department of Consumer Affairs tracks the daily prices of 22 essential food commodities from 550 centers across 34 states and Union Territories. “We are now adding 16 more commodities, taking the total number of food items to 38 whose prices will be monitored on a daily basis,” Joshi announced.

The newly included commodities are bajra (whole), jowar (whole), ragi (whole), suji (wheat), maida (wheat), besan, ghee, butter (pasteurised), brinjal, egg, black pepper, coriander, cumin seed, red chillies, turmeric powder, and banana.

The Price Monitoring Division (PMD) within the department is responsible for tracking the prices of these essential commodities.

The minister also launched an updated ‘PMS Mobile App Version 4.0,’ which allows price reporting centers to report daily on the updated list of 38 commodities.

“We will get to know the actual price situation of 38 commodities daily. We will get information about price rises. This will help in policy-making and stabilizing price volatility,” Joshi stated.

Consumer Affairs Secretary Nidhi Khare added, “The 38 commodities constitute close to 31 percent of the total CPI (consumer price inflation) weights, as against 26.5 percent of CPI weights captured by the 22 commodities.”

She also noted that the Reserve Bank of India (RBI) had advised the department to expand the list of monitored commodities.

Previously, the government monitored 22 commodities, including rice, wheat, atta, gram dal, tur (Arhar) dal, urad dal, moong dal, masur dal, sugar, gur, groundnut oil, mustard oil, vanaspati, sunflower oil, soya oil, palm oil, tea, milk, potato, onion, tomato, and salt.

Joshi highlighted that the government has allocated Rs 10,000 crore under the price stabilisation fund (PSF).

The fund aims to address inflationary trends for selected agri-horticultural commodities like onions, potatoes, and pulses, protecting consumer interests. These commodities are procured and stored for regulated release to help moderate prices. The government’s market interventions aim to send appropriate market signals and deter speculative or hoarding activities.