Thalinomics refers to the study of the cost associated with a basic meal, or thali, which typically includes essential components such as rice, pulses, vegetables, and sometimes meat. This metric serves as a valuable indicator of food inflation and the overall cost of living.
As of June 2024, both vegetarian and non-vegetarian meal costs in India reached significant highs, marking a notable trend in food prices. The cost of a vegetarian meal rose by 10% compared to the previous year, while non-vegetarian meal prices increased by 4% from the preceding month.
The primary contributors to these price hikes include substantial increases in the prices of key vegetables such as tomatoes, onions, and potatoes (often referred to as TOP vegetables). Prices for these items surged by 30%, 46%, and 59%, respectively, primarily due to lower market arrivals. Additionally, rice and pulses experienced price increases attributed to adverse agricultural conditions.
In June 2024, the price of a vegetarian meal reached ₹29.4, marking the highest level recorded this year and reflecting a 6% increase from May. Conversely, the cost of a non-vegetarian meal climbed to ₹58, the highest it has been since November 2023.
The CRISIL Market Intelligence and Analytics report indicates that food inflation likely intensified in June, following an 8.7% inflation rate documented in both April and May. This increase highlights ongoing concerns regarding food affordability and availability.
Several agricultural factors have influenced the recent price changes. A reduction in acreage and lower market arrivals resulted in a 13% year-on-year increase in rice prices. Additionally, a dry spell during critical kharif months adversely affected pulses production, leading to a 22% price increase for these staples.
The official retail inflation data for June, set to be released on July 12, is anticipated to align with the trends suggested by the CRISIL report, indicating continued food inflation challenges for consumers.
Q1. What is Thalinomics?
Answer: Thalinomics is the study of the cost of a basic meal, or thali, which includes essential food components, providing insights into food inflation and living costs.
Q2. What are the recent trends in meal costs in India?
Answer: In June 2024, vegetarian meal costs rose by 10% year-on-year, while non-vegetarian meals increased by 4% from the previous month, reaching significant highs.
Q3. What factors are driving the increase in food prices?
Answer: Major factors include rising prices of tomatoes, onions, and potatoes, alongside agricultural challenges affecting rice and pulses, contributing to overall food inflation.
Q4. How much have meal costs increased recently?
Answer: The cost of a vegetarian meal reached ₹29.4, while a non-vegetarian meal cost ₹58, both marking significant increases from previous months.
Q5. What does the CRISIL report say about food inflation?
Answer: The report suggests that food inflation intensified in June, following an 8.7% inflation rate recorded in earlier months, indicating ongoing inflationary pressures.
Question 1: What does Thalinomics study?
A) Cost of a basic meal
B) Agricultural techniques
C) Food distribution systems
D) Market economics
Correct Answer: A
Question 2: What was the increase in vegetarian meal prices in June 2024?
A) 4%
B) 10%
C) 6%
D) 8%
Correct Answer: B
Question 3: Which vegetable saw a price increase of 59%?
A) Potatoes
B) Tomatoes
C) Onions
D) Pulses
Correct Answer: B
Question 4: What percentage increase was observed in rice prices due to agricultural factors?
A) 22%
B) 13%
C) 30%
D) 46%
Correct Answer: B
Question 5: When is the official retail inflation data for June expected to be released?
A) June 30
B) July 12
C) July 15
D) June 15
Correct Answer: B
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