New Delhi: The sky-rocketing prices are dampening Diwali enthusiasm of middle and low income groups as they are forced to cut down their budget for smooth running of their budgets. This is for the third consecutive year that the soaring prices have diminished the festive mood of people.

The whopping prices of edible products including vegetables, dairy products, edible oil is withering the festival celebrations.

During January this year, the rate of food inflation was at 15.52 percent. But in the third week of October it has risen to double-digit mark.

The soaring prices of Diwali items such as crackers, earthen diyas, oil and sweets are putting customers off from the shops selling these items.

The prices of dairy products including milk have become dearer by 10 percent as compared to last year. Spiraling prices of vegetables and onions spiked food inflation as it remained in double digit throughout late this year.

Vegetable prices continued to remain firm going up by 17.56 percent over the same period last year. Onion prices doubled during the year. Besides, fruits too have become expensive by 11.35 percent this year.

The weakening of rupees against dollars is the major contributor to the escalating prices on the occasion of Diwali.

JPN/Bureau