Key takeaways

• Vegetable inflation in India remains the most volatile component of food inflation
  
• In fiscal 2024, while the usual high volatility played out, there were other anomalies that pushed inflation higher. These disturbances included warmer weather, uneven rains and pest attacks
• As a result, the vegetable price index not only missed its typical seasonal winter decline but also outran the seasonal uptick last year. Average vegetable inflation therefore surged higher in fiscal 2024
• Rising intensity and recurrence of weather disturbances have led to frequent bouts of volatility in recent years. As climate risks mount, there is a need to mitigate its impact on vegetable production and prices