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Chart of the week: India’s onions reach eye-watering highs

A poor harvest has triggered a shortage of onions in India. Prices are almost seven times higher than in 2004.

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A poor harvest has triggered a shortage of onions in India, one of the world's top producers and exporters.

Indian dishes tend to use a lot of onions. Due to a 245% annual jump in wholesale prices leaving them almost seven times higher than in 2004 overall food inflation has reached a three-year peak of 18.2%.

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The government, which remembers that a 1998 shortage led to the fall of one of its predecessors, is now allowing them to be imported.

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