A year ago, the overall market had fallen 1.3% during the quarter, entirely dragged by urban demand that declined 3.7%. "Impact of inflation and monetary tightening on economic growth and demand seems to be slowing down. Food and beverages led the growth during the quarter due to strong performance of wheat flour in March. "In the December quarter, we had 11% price growth, now it is 7%, and in the next quarter, it will go down even more. That's the whole cycle until it reaches a state of equilibrium, where it will again be about 70% volume growth and 30% price growth."

Source: Economic Times May 04, 2023 10:37 UTC