Vegetable prices soar amid rising inflation

Pic By Pradeep Pathirana

By Sheain Fernandopulle  

The prices of vegetables have seen a significant increase, contributing to the overall rise in inflation.  According to official data, several vegetables have experienced noticeable price hikes, both in the wholesale and retail markets.

The retail prices for beans cost Rs. 650.00, up from Rs. 550.00, while in Dambulla, the price has risen from Rs. 545.00 to Rs. 650.00. Carrots are now Rs. 450.00 in Pettah, up from Rs. 300.00, and Rs. 420.00 in Dambulla, up from Rs. 355.00. 

The retail prices for beans cost Rs. 650.00, up from Rs. 550.00, while in Dambulla, the price has risen from Rs. 545.00 to Rs. 650.00. Carrots are now Rs. 450.00 in Pettah, up from Rs. 300.00, and Rs. 420.00 in Dambulla, up from Rs. 355.00.

In Narahenpita, beans are now priced at Rs. 800.00, and tomatoes in Pettah have gone from Rs. 240.00 to Rs. 280.00, and in Dambulla, from Rs. 255.00 to Rs. 520.00.   
In addition, prices of certain vegetables in supermarkets too have witnessed a rise. The cost of lime has surged to Rs. 3,820.00 per kg, green chillies have increased from Rs. 550.00 to Rs. 700.00 per kg, ginger has risen to Rs. 4,860.00 per kg, carrots are now Rs. 620.00 per kg, potatoes are Rs. 530.00 per kg, capsicum is Rs. 980.00 per kg, and green beans are Rs. 780.00 per kg.

As per the wholesalers and retailers in the Economic Centres, the main reason for the vegetable price hike is the rainy conditions and low supply. The adverse weather has affected crop yields, leading to reduced availability and driving up prices.   

This trend is expected to continue unless supply conditions improve, according to the managers of Economic Centres.   

According to the Department of Census and Statistics, the overall rate of inflation rose to 2.4% in June 2024, up from 1.6% in May 2024.   

Food inflation increased significantly, reaching 1.9% in June 2024, compared to 0.5% in May 2024. Meanwhile, the Year-on-Year inflation rate for the non-food group climbed to 2.7% in June 2024 from 2.4% in the previous month.   

In June 2024, the contribution of food commodities to inflation was 0.85%, compared to the same month in 2023.