Rising veggie prices hit the common man hard, says survey

The monetary policy committee has raised its projections for retail price inflation, but the rising prices are not just a number.

The man on the street is being hit hard by surging prices of veggies such as lemons, beans, ladyfingers. For instance, 87 per cent of respondents in a survey said that they are paying more for vegetables in April than they paid in March, assuming they buy the same quantities. Over one-third, or precisely 37 per cent, said that they are paying one-fourth more for getting vegetables in April compared to the previous month.

The survey, conducted by Local Circles, got 11,800 responses from citizens across 311 districts of the country. Meanwhile, another survey by Local Circles showed that around 24 per cent of households said that they have been forced to reduce their consumption of edible oils due to a sharp spike in its retail rates, while 29 per cent said they have downgraded their cooking oil to available cheaper alternatives due to the hike. It also found that 67 per cent of the respondents have reduced or lowered their spending in other areas to pay for higher edible oil prices.

This survey was derived out of responses from around 36,000 consumers spread across 359 districts of India. The survey was conducted between March 23 and April 7, 2022.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor