Onions just got dearer. Many reasons have been blamed for the soaring prices of one of the most loved ingredients in everyone's curry. However, this curry is turning out to be a luxury. Latest reports indicate that onion prices have soared further.

Prices of onions jumped a mind boggling 244.62%, reading between Rs70 and Rs80 per kg in Delhi and Rs70 per kg in Mumbai. In Bhopal too, prices touched Rs65 per kg, while Patna is buying onions at Rs50 per kg.

This onion's story has also resulted in a maddening rise in inflation, compounded by a rise in fuel prices. Costlier fuel has, meanwhile, also contributed to the rise in onion prices. Rains in Maharashtra and a severe shortage of supply are the other worrisome factors contributing to the scenario.

Hoarding by suppliers is also reported to have played a role in hitting household budgets haplessly. Currently, the headline inflation stands at 6.1%, which is the highest in six months. This has tied up  new RBI Governor Raghuram Rajan from announcing any rate cuts. The chief is expected to announce his first monetary policy review during this week.

(AW: Sruthi)