A dozen ingredients show India's mounting food inflation risk

India's food inflation risk is rising due to a combination of factors, including weak monsoon rains, the Iran and Ukraine wars, and increased demand for crops used in biofuels. This is causing a surge in prices of essential ingredients, with onions being nearly 50% more expensive than a year ago and ginger prices rising over 70%. As a result, the cost of an everyday Indian meal, or thali, is increasing, putting pressure on households, especially during the festive season.

Why it matters

India's food prices are increasing due to weak monsoon rains and global events. This could lead to higher inflation and affect consumer spending.

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