Onion, chicken prices make home-cooked meals costlier in July: Report
Vegetarian thali costs rose four percent year-on-year in July. Non-vegetarian thali prices increased nine percent due to higher chicken costs. Onion and vegetable oil prices also contributed significantly to these increases. Potato and tomato prices fell, partially offsetting the overall rise. Month-on-month, vegetarian thali costs saw a two percent jump.
In July, cooking meals at home became significantly pricier, according to a Crisil Intelligence report. Vegetarian thalis saw a 4% year-on-year rise in cost, while non-vegetarian thalis increased by 9%. This inflation was driven by surging prices of onions, vegetable oil, and LPG cylinders, as well as a sharp hike in chicken prices, the report revealed.
The primary reason behind the steep rise in vegetarian meal costs was a 20% surge in onion prices compared to last year. Vegetable oil prices climbed by 11%, while LPG cylinder prices went up 10%. These factors combined to make household cooking costs more burdensome.
For non-vegetarian thalis, the cost increase was steeper due to a 14% jump in broiler chicken prices year-on-year. Broiler chicken constitutes nearly half the cost of a non-vegetarian meal, making it a significant factor in the price rise.
The report attributed the high onion prices to the arrival of expensive stored rabi stocks and supply constraints caused by unseasonal rain and hailstorms in Maharashtra. These weather events damaged the late-season crop, affecting stored inventories.
The price hike in vegetable oil and LPG cylinders was also linked to supply disruptions and rising energy costs due to the ongoing conflict in West Asia. However, lower prices for potatoes and tomatoes helped mitigate the overall price hike for home-cooked meals.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
