2024-04-20 07:09:45
New Delhi: Inflation is increasing. Due to inflation, living is becoming difficult in every state of the country. But, the latest data shows that in the month of March, the people of Delhi faced the lowest inflation while the people of Odisha had to buy the most expensive goods. This report has been published by our associate Times of India.
Data comes from 22 states and union territories
According to TOI, inflation data for 22 states and union territories of the country is published every month. Of these, the overall inflation rate in 13 states was more than 4.9 percent. Of these, Odisha had the highest inflation rate of 7.1%. After this, 6.1% was recorded in Assam and Haryana. Bihar recorded a rate of 5.7%, while Telangana saw a rate of 5.6%. People usually talk about the expensive lifestyle of Delhi. But according to this report, Delhi recorded the lowest inflation rate at 2.3%.
Where is inflation higher in urban areas?
Odisha witnessed the highest inflation rate even among urban areas. There was an inflation rate of 6.5% last month. After this comes Rajasthan and Telangana.
Inflation rate decreased in March
Data released earlier showed retail inflation fell to a five-month low of 4.9% in March due to a marginal decline in food inflation, down from 5.1% recorded in February. This data has come before the first phase of general elections. Voting for which is scheduled for Friday. Rural inflation was more than 5.5%, while urban inflation was 4.1%.
Why somewhere less and somewhere more?
There are many factors that cause variations in inflation rates between states and union territories. These include supply management and the impact of weather events. While, retail inflation has moderated in recent months, some pressure points remain in vegetables, pulses and some food items.
Inflation rate around 7 percent
Experts say they expect the food and beverage inflation rate to remain around 7% and the expected heat in some parts of the country is likely to put fresh pressure on prices of vegetables and perishable items. The hardening of global crude oil prices against the backdrop of ongoing geopolitical tensions in West Asia could also act as a pressure point for prices in the coming months.
Expectations of interest rate cut are low
Expectations of interest rate cuts have diminished in recent weeks. Also now experts say that the Reserve Bank of India (RBI) may increase the rates in the second half of this year. However, their action will also be guided by the geo-political situation and inflation trajectory. In his latest monetary policy statement earlier this month, RBI Governor Shaktikanta Das had said that food price uncertainties were weighing on the pace of inflation going forward.