Cost of home-cooked veg thali up 9% to ₹27.8 in May: CRISIL

Home-cooked vegetarian thali saw a 9% price hike in May 2024, mainly due to the soaring costs of 39%, 41% and 43% of tomatoes, potatoes, and onions, respectively, stemming from reduced crop yields and a low base effect of the last fiscal. However, the non-veg thali took a 7% price dip in the same period, thanks to lower broiler prices, as per CRISIL’s ‘Market Intelligence and Analysis’ 'Roti Rice Rate' report unveiled on Wednesday.

The pricier veggies pushed the veg thali to ₹27.8 from ₹25.5 last year, according to CRISIL. This thali usually includes roti, onions, tomatoes, potatoes, rice, dal, curd, and salad. Non-veg versions swap dal with broiler chicken. Non-veg thali prices dropped from ₹59.9 to ₹55.9 due to a 16% fall in broiler prices. The average cost is calculated across North, South, East, and West India.

The scarcity of onions due to a sharp drop in rabi cultivation and fewer potatoes due to issues like late blight and crop damage in West Bengal were major contributors to the price hike, according to the report. Rice and pulses also jumped in price by 13% and 21%, respectively.

Fortunately, the increase in veg thali prices was offset by cheaper cumin, chilli, and vegetable oil, which fell by 37%, 25%, and 8%, respectively.

Monthly, the veg thali costs crept up 1%, due to a 9% hike in potato prices, while other components stayed steady. The non-veg thali costs declined due to an estimated 2% decline in broiler prices amid high base effect.

“The average cost of preparing a thali at home is calculated based on input prices prevailing in north, south, east and west India. The monthly change reflects the impact on the common man’s expenditure. The data also reveals the ingredients (cereals, pulses, broilers, vegetables, spices, edible oil and cooking gas) driving the change in the cost of the thali,” the report adds.

CPI inflation in April 2024 barely changed from March, decreasing slightly from 4.85% to 4.83%, indicating resistance to reaching the RBI MPC target of 4%. The slight rise in headline inflation was mainly due to food inflation during summer. The CPI inflation for the months of January and February stood at 5.10% and 5.09%, respectively.

"The annual inflation rate based on all India Consumer Price Index (CPI) number is 4.83% (Provisional) for the month of April, 2024 (over April, 2023)," the ministry of statistics & programme implementation (MoSPI) reports, noting that the inflation rates for rural and urban areas are 5.43% and 4.11%, respectively.

Moreover, even though CPI inflation decreased, food inflation in April 2024 soared to a four-month peak of 8.70%, up from 8.52% in March 2024. In rural areas, food inflation increased to 8.75% in April from 8.55% in March, while in urban areas, it climbed to 8.56% from 8.41%.