During the third week of November 2024, average prices of key food commodities recorded a negligible decline, except for low quality rice, cooking oil, sugar, bread, and salt, which indicate negligible increase. The current prices of key food commodities have significantly declined compared to last year, reflecting a downward trend driven by deflation, local currency appreciation, and the drop in global prices. However, compared to the pre-Covid period, prices of main food commodities are still significantly higher (except wheat grain and wheat flour). Similarly, compared to the month of June 2021, prices of all other food items -- except wheat, wheat flour and cooking oil are significantly high.
The prices of key vegetables, including tomato, potato, and onion, exhibit notable fluctuations between pre-harvest and post-harvest periods and increase significantly during the winter season. Additionally, significant price variations are observed across provinces, influenced by the availability of local harvests in those provinces. As of the 3rd week of November, prices of tomato, potato and onion showed slight increases compared to last week, with tomato rising by 5.7% and potato by 3.5%. While tomato prices are lower by 20%, onion prices are still higher by 33% compared to last year.
Moreover, potato and onion prices are significantly higher compared to June 2021.
The national average prices of non-food commodities are showing a normal trend with minor fluctuations in weekly prices.
However, compared to the same time last year, the prices of fertilizers (DAP & Urea), improved seeds, and animal concentrate feed have dropped significantly. Additionally, the ToT for nominal casual labour/wheat and pastoralists has notably improved, both compared to last year and the pre-Covid period.