Onion prices have soared above Rs 50 per kilogram in nearly half of India’s states and union territories, with a notable 8.4 percent increase in the first five days of September compared to August. Prices are now 46 percent higher than a year ago and 28.6 percent up since the start of 2024.
Haryana’s prices average Rs 45.6 per kg, up 67.9 percent over the past year, while Maharashtra’s prices have risen by 60.5 percent, reaching Rs 49.31 per kg. Jammu & Kashmir, heading into elections, is seeing prices of Rs 56.12 per kg.
The price spike extends to other vegetables. Potatoes, averaging Rs 37.21 per kg in August, are at a 44-month high, while tomatoes have decreased slightly to Rs 44.13 per kg but remain significantly higher compared to earlier in the year.
The rise in prices of onions, tomatoes, and potatoes is likely to drive up inflation, as these vegetables account for 2.2 percent of the inflation basket. Economists predict vegetable inflation could hit double digits, despite a decrease in edible oil prices.
