New Delhi: In December, the expense of preparing meals at home saw a decline, especially for those favoring vegetarian and non-vegetarian options, according to insights from CRISIL Market Intelligence & Analytics. The data reveals a 3 percent reduction in the cost of a vegetarian thali and a 5 percent decrease in the price of a non-vegetarian thali on a month-on-month basis.
Vegetarian Thali Becomes More Affordable
The dip in prices was attributed to a 14 percent drop in onion prices and a 3 percent decrease in tomato prices during the month. With the festive season concluding, these reductions contributed to making a vegetarian thali more affordable for households. (Also Read: Low Investment, High Returns Business Idea: Invest Rs 8 Lakh To 10 Lakh And Earn Bumper Amount)
Non-Vegetarian Thali Witnesses Significant Price Drop
The cost of a non-veg thali experienced a more substantial decrease, mainly due to a 5-7 percent sequential decline in chicken prices, which constitute half the total cost of the thali. (Also Read: Interim Budget 2024: Key Budget Terms And Terminology You Should Know)
Year-on-Year Comparison Highlights Fluctuations
However, when compared to December 2022, the cost of a vegetarian thali in December 2023 was 12 percent higher, primarily due to a significant spike in vegetable prices, including a 24 percent increase in pulses.
Mixed Fortunes For Vegetarians And Non-Vegetarians In 2023
While vegetarians faced increased costs due to rising vegetable prices in 2023, non-vegetarians saw a 4 percent reduction in the cost of a non-veg thali compared to the previous year. This decline was driven by a 15 percent fall in chicken prices, attributed to higher production.
CRISIL’s Assessment And Predictions For Inflation
CRISIL’s calculations are based on a typical vegetarian thali comprising roti, vegetables (onion, tomato, and potato), rice, dal, curd, and salad. A non-veg thali is similar but substitutes chicken for dal. Despite fluctuations in food prices, the quantity of each item in the thali remains constant.
These latest thali prices are released ahead of the statistics ministry’s retail inflation data for December, scheduled for January 12. Economists predict a potential increase in inflation closer to the upper bound of the Reserve Bank of India’s 2-6 percent tolerance range, compared to 5.55 percent in November.