Pricey vegetables keep thali prices up in October: CRISIL

Onion, tomato and potato prices push inflation up

The average price of a vegetarian home-cooked meal was 20 percent higher compared with the previous year and 6 percent higher over the month, according to a report released by CRISIL on November 6.

A vegetarian thali cost Rs 33.3 in October compared with Rs 31.3 in the previous month.

“The cost of the veg thali rose due to an increase in the prices of vegetables, which collectively account for ~40% of the thali cost,” the rating agency noted.

Onion prices were up 46 percent, while potato was 51 percent costlier compared with the previous year.

“Further, rainfall in Maharashtra and Karnataka have delayed onion harvests and cold storage stocks of rabi potato (which accounts for ~95% of annual potato production) are declining due to the season end, while fresh arrivals are slated to begin from Dec-Jan,” Crisil said.

The agency also noted that higher tomato prices owing to crop damage also contributed to thali inflation.

Tomato prices rose 39 percent on the month.

“Price of pulses, which account for 9% of the veg thali cost, rose 11% due to an 11% lower opening stock, a lower stock pipeline and festive demand,” the report stated.

While import duty raised the cost of vegetable oil by 10 percent on the month.

Non-vegetarian thali costs were more contained at 5 percent, with broiler prices falling.

Inflation is likely to stay high in October as well.