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Tezzbuzz Desk- Before the start of the festive season, the shock of inflation seems to be increasing for the common people. After the rapid increase in the prices of sugar, its effect is now visible on the prices of jaggery and sweets also. Sugar prices recorded a month-on-month increase of 2.73 percent in July, which is much higher than the 0.63 percent increase in June.

The trend of increase in sugar prices has been going on for the last few months. In April its prices had increased by only 0.09 percent compared to the previous month. This increase was 0.44 percent in May and 0.63 percent in June. A sudden increase of 2.73 percent was recorded in July. This means that in just a few months the pace of sugar prices has increased. Sugar has also become expensive on an annual basis. In July, the price of sugar was 4.92 percent higher than last year. The annual increase in June was 2.17 percent. In this way, within a month there was a big jump in the annual inflation of sugar. According to the report, the price of sugar has now reached above Rs 60 per kg, whereas in July it was around Rs 48 per kg.

This is also affecting the prices of jaggery. Jaggery prices increased by 1.76 percent month-on-month in July. Earlier in May and June also, an increase of about 1 percent was recorded in the prices of jaggery. On an annual basis, the inflation of jaggery increased to 6.28 percent in July, whereas it was 5.31 percent in June. The effect of rising prices of sugar and jaggery is also visible in the sweets market. The price of sweets prepared separately from milk increased by 0.63 percent in July. Earlier there was an increase of 0.82 percent in June and 0.70 percent in May. In July, the annual inflation of these sweets reached 6.08 percent, which is the highest level in the last seven months.

Now the biggest question is regarding prices during festivals. During festivals like Navratri, Dussehra and Diwali, the demand for sweets and sugar increases compared to normal days. In such a situation, if the prices continue to rise along with the increase in demand, then it can have a direct impact on the household budget of the people. However, the data of the last 10 years shows that the inflation of sugar has not increased every time during festivals. During this period, only in the festive seasons of 2016, 2021 and 2022, sugar inflation was faster than in the previous three months. There was a decline in it in the remaining seven years. This time the situation is important because the prices of sugar, jaggery and sweets have increased even before the demand for festivals increases. In such a situation, their prices will remain under watch in the coming months. If demand and price pressure increase together, then buying sweets during festivals may prove to be costlier than before for ordinary families.