Citing seasonal trend, experts have said that prices of eggs usually rise during winter season. However this price hike has not been witnessed before.

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The hike in prices was due to an estimated 15% increase in demand, a report by Financial Express on Monday quoted Executive member of the National Egg Coordination Committee (NECC) Raju Bhosale.

Bhosale added that this increase in prices was also due to costlier vegetables. Onions and tomatoes are now priced at Rs 40-50 per kg.

“When vegetables turn costly, people switch to eggs, pushing up its rates as well. This is a imple substitution effect,” Bhosale said.

 

Retail inflation is also expected to shoot up in November after reaching a seven month high of 3.58% in October. 

"We expect CPI inflation to rise above 4% in November and stay above the RBI's target of 4% through 2018," Nomura said in a research note.

Bank of America Merrill Lynch analysts are of the opinion that consumer price index inflation will touch 4.5% in November.

The report also cited ‘lower realisation of eggs as well as broilers,’ which was linked to demonetisation of higher currency notes.