Food prices have been going up significantly in the past and inflation is on the rise. We have seen reports of tomato and other vegetable prices rising up in various Indian cities. And now, another report by CRISIL (Credit Rating Information Services of India Limited) states that the average cost of a vegetarian and non-vegetarian thali have ‘inched up sequentially’ in the months of May-June 2023 as compared to the past months. The report has been shared by the Indian analytical company on their website and social media. Take a look:
The sharp decline in vegetable and cooking oil costs has led to cost reduction by 9% and 4% for both vegetarian and non-vegetarian thali respectively. What are the reasons behind this plunge?
Read the #latest#CRISILPerspective to learn more. https://t.co/QN0Ooed5X1pic.twitter.com/8xa7jRTiqp— CRISIL Limited (@CRISILLimited) June 7, 2023
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As per the report, the average cost of thali is calculated based on input prices prevailing in North, East, South and West India. It also considers various ingredients like cereals, pulses, broilers, vegetables, spices, edible oil and cooking gas that are used in the making of a thali. CRISIL also stated that the cost of veg and non-veg thalis was on the decline since October 2022, but has now inched up slightly. Thus, a veg thali now costs Rs 25.1 and a non-veg thali costs Rs. 60.6 which means they have become costlier by 9% and 4%, respectively.
“The cost of veg and non-veg thalis declined 9% and 4% on-year, respectively, in May due to steep decline in prices of vegetables and cooking oil, which account for 25% of the total cost of a veg thali, but increase in prices of cereals, pulses, chicken, and eggs capped the reduction,” read the report. Prices of wheat increased by 8%, while pulses and rice increased by 10% and 4% respectively in May 2023. Chicken prices have also risen 5-7% leading to an increase in non-veg thali cost.