Expensive onions are poised to significantly inflate the costs of your meals in November, just as the festive season approaches. Recent data from CRISIL, a prominent rating agency, suggests that your food plate is about to get more expensive. Notably, onion prices have surged beyond Rs 80 per kilogram, following an increase from Rs 34 to Rs 40 per kilogram in October. This hike in onion prices, however, has failed to alleviate the overall cost of your meals.
Soaring Onion Price will Impact Your Meal Cost
The good news is that the prices of other vegetables have softened. The costs of potatoes and tomatoes have decreased by 21% and 38%, respectively. As a result, the price of a vegetarian thali has remained reasonably controlled. It now stands at Rs 27.5, which is 5% lower than a year ago and 1% less than in September.
Softening Vegetable Prices Offer Respite for Vegetarian Thalis
November is the festival season, with Diwali, the most prominent festival, falling on the 12th. This time of year sees people in North India buying new clothes, particularly for children, and incurring various festival-related expenses.
CRISIL’s report indicates a 7% year-on-year reduction in the price of non-vegetarian thalis, which now costs Rs 58.4, down 3% from September. This decline is primarily due to the softening of broiler prices, which have decreased by approximately 5-7%. Additionally, the government’s decision to reduce LPG prices has contributed to the affordability of thalis. The cost of LPG has now dropped by Rs 200 to Rs 953. Notably, LPG constitutes 14% of the cost of a vegetarian thali and 8% of a non-vegetarian thali.