The cost of home-cooked meals in December decreased compared to the previous month, thanks to a significant decline in the prices of onions, tomatoes, and poultry products, as reported by rating agency CRISIL.
The cost of preparing a non-vegetarian thali decreased by 5 percent to INR 57.6 in December, down from the previous month’s INR 60.4. In December 2022, the average cost of preparing a non-veg thali at home was INR 60.1. Consequently, the non-veg thali became more affordable both sequentially and on a year-on-year basis.
The price of a vegetarian thali dropped by 3 percent to INR 29.7 in December, compared to the previous month’s INR 30.5. This reduction was primarily attributed to a 14 percent decrease in onion prices, while tomatoes also experienced a 3 percent month-on-month cost decline.
While the costs of onions and tomatoes have decreased on a month-on-month basis, they still significantly exceed the prices from a year ago. In December 2023, the price of onions was 82 percent higher compared to the same month the previous year, and the price of tomatoes was 42 percent higher.
Year-on-Year Trends: Home-Cooked Meals Costs Are on the Rise
As a result of this rise, the year-on-year cost of a vegetarian thali in December increased by 12 percent. The prices of pulses, constituting approximately 9 percent of the overall cost of the vegetarian thali, experienced a 24 percent surge on a year-on-year basis in December.
In December, the cost of chicken (broiler) decreased by 15 percent compared to the same month last year, attributed to increased production. Consequently, the price of the non-vegetarian thali witnessed a drop both on a monthly and yearly basis. Broiler chicken constitutes approximately half of the total cost of a non-vegetarian thali.
For analysis, items considered for a veg thali include roti (bread), vegetables (onion, tomato, and potato), rice, dal, curd, and salad. The non-veg thali has the same items as the veg thali, except that pulses (dal) are replaced by chicken (broiler).
As mentioned in its monthly report, CRISIL emphasized that the costs are indicative of the expenses incurred in preparing a thali at home. These figures do not reflect the retail price of a thali, which encompasses overhead costs, staff expenses, and profit margins.
Continue Exploring: Rising onion and tomato prices spark sharp increases in thali costs