The prices of onion continue to remain high in November while other vegetable prices are seeing a dip of 4.1 per cent MoM in Nov so far, highlighted a report by ICICI Bank.
The report noted that the overall vegetable prices have seen some relief in November, but onion prices continue to remain elevated, contributing to India’s inflationary pressures.
It said “prices are seeing some deceleration in November. Although onion prices continue to remain elevated in November, veggie prices are seeing a dip of 4.1 per cent MoM in Nov so far”.
But despite the fall in vegetable prices in November, on an annual basis prices are still running high, recording a 57-month peak with a year-on-year increase of 42 per cent in October.
The report noted that this surge in vegetable prices is led by significant price hikes in essential items prices like tomatoes, potatoes, and onions. Tomato prices have skyrocketed by 161 pc year-on-year, while potatoes and onions have seen price hikes of 65 pc and 52 pc, respectively.
