New Delhi:Crisil’s monthly food plate cost indicator reveals a steady increase in the average cost of a thali, a popular Indian meal, from April to December 2022. The rise is attributed to soaring wheat, chicken, cooking fuel, and vegetable oil prices.
The data indicates a 9% year-on-year increase in the cost of a vegetarian thali, while the cost of a non-vegetarian thali surged by over 32%. The significant hike in non-vegetarian thali prices was primarily driven by a staggering 55% year-on-year increase in broiler (chicken) prices, owing to the elevated cost of feed.
Wheat flour prices climbed around 15% year-on-year, resulting from a heat wave-induced production decline, while robust demand persisted. Vegetable oil prices rose by 6%, and LPG prices spiked 20% year-on-year, further contributing to the escalating meal costs.
Thali prices began to moderate sequentially from January 2023, with April 2023 figures showing a flat year-on-year cost for a vegetarian thali and a 2% year-on-year decrease for a non-vegetarian thali. Vegetable oil and broiler prices dipped 16% and 2-4% year-on-year in April 2023, respectively, offering some respite. However, wheat flour and LPG prices continued to rise, up 12% and 11% year-on-year, respectively, in April 2023, hampering further reduction in thali costs.
Crisil’s monthly food plate cost indicator aims to measure the impact on the everyday consumer’s expenses and highlights the key ingredients influencing thali cost fluctuations.
Download The Mint News App to get Daily Market Updates.
More
Less
For all the latest world News Click Here
