In August, the cost of preparing a thali at home witnessed a notable decline in August 2024, both on a yearly and monthly basis, Crisil said in a report.

In its latest Market Intelligence & Analytics (MI&A) Research, Crisil’s Roti Rice Rate index showed the price of vegetarian (veg) thalis dropped by 8 per cent year-on-year (Y-o-Y) while non-vegetarian (non-veg) thalis saw an even sharper decline of 12 per cent Y-o-Y.

Crisil said the drop was mainly driven by significant price reductions in home food essentials, primarily tomatoes, vegetable oil, and spices.

Lower fuel costs and broiler prices also contributed to the lower expenses, it added.

The price of liquefied petroleum gas (LPG) cylinders also dropped substantially, further reducing the overall cost of a thali.

In March 2024, the price of a 14.2 kg LPG cylinder in Delhi was Rs 803, a 27per cent drop from the Rs 1,103 recorded in August 2023.

Tomato prices plummeted by 51 per cent Y-o-Y, falling from Rs 102 per kilogram in August 2023 to Rs 50 per kilogram in August 2024.

This sharp decrease is attributed to fresh supplies from southern and western states, Crisil said.

Tomatoes, which make up about 14 per cent of the cost of a veg thali, played a significant role in the overall price decline.

Other ingredients such as vegetable oil, chilli, and cumin, which collectively represent less than 5per cent of the veg thali cost, also saw a reduction.

Prices of vegetable oil fell by 6 per cent, chilli by 30 per cent, and cumin by a significant 58 per cent Y-o-Y.

Crisil said that on a monthly basis, the costs also eased, with the veg thali declining by 4per cent and the non-veg thali by 3 per cent from July to August 2024.

This was primarily driven by a further drop in tomato prices, which fell 23per cent sequentially, from Rs 66 per kilogram in July to Rs 50 per kilogram in August.

For the non-veg thali, the decline in cost was additionally attributed to a 1-3 per cent decrease in broiler prices, a typical trend during the Shravan month, when non-veg consumption decreases across the country due to religious observances.

A 2 per cent rise in potato prices and 3 per cent in onion prices on a monthly basis curbed the potential for a more substantial decrease in thali costs.