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The retail prices of essential commodities such as rice, dhal, pulses, cooking oil, and spices rose by nearly 20% in Aug. At Koyambedu wholesale market, traders said prices of most staple commodities rose by about 10% over the past month, with rice recording the sharpest increase. Rice prices have increased by around ₹10 per kg, prompting customers to buy smaller quantities, traders said. Retailers said the increase has been steeper in some parts of the city, with prices of essential commodities rising by nearly 20% in Aug. Coconut oil price, for instance, increased by around 12% compared to its wholesale price,” said S Seetharaman, a retailer in Anna Nagar East.
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R Punniappan, market secretary, said reduced yields in several parts of the country affected supplies to Tamil Nadu . But if the monsoon fails, it will further affect supplies and push up prices,” he said. Punniappan said the situation could improve if cultivation begins in Nov with periodic rainfall. Dr K M Shiva Kumar, professor of agricultural economics at Tamil Nadu Agricultural University, said seasonal fluctuations could affect supplies and push up prices, particularly for perishable commodities.
For families in the city, it’s not just chopping onions that brings tears to their eyes. This has left families across income groups spending more on the same basket of everyday staples, forcing some to rework their monthly budgets. Traders attribute the surge to the prolonged dry spell and drought-like conditions in several parts of the country. They say prices may rise further if adequate rainfall does not arrive in the next three months. “This year, we managed with the old stock. This has led to a marginal decline in sales. “Prices of some commodities vary depending on the brand and store. He pointed to the broader impact of macroeconomic factors on inflation. Download the TOI App.
C Shanthi, a daily-wage labourer who earns around ₹2,000 to ₹2,500 a week, said, “The rates have increased by around 10%-15% in retail shops. Egg prices, however, remain stable, with wholesale prices at ₹5.8 and retail prices at ₹6.5-₹7.
Raising prices on the menu is off the table, as it would affect our business, which is already operating at a loss,” said M Ravi, president of the Chennai Hotels Association. M Ashok Kishen, coordinator, National Egg Coordination Committee, Chennai zone, said prices were likely to remain stable in the coming days. For low-income households, cutting down purchases is less a matter of choice than necessity. It may seem like a small increase, but now we can’t manage other expenses such as rent and educational fees. So, we have decided to cut back on essential purchases. Meanwhile, those buying groceries online report restrictions on certain commodities. Rationing became noticeable after the rise in sugar prices, with some platforms limiting purchases to around 8kg. Restaurants and hotels feel the pinch too. “We are struggling to absorb the higher costs.