CPI Inflation

Source: National Statistics Office (NSO)

India’s retail inflation, based on the Consumer Price Index (CPI), eased to 3.34% in March 2024 — the lowest since August 2019. However, several states continued to record inflation rates above the RBI’s medium-term target of 4%, underscoring regional price pressures.

States with Highest Inflation (%):

• Kerala – 6.59
• Karnataka – 4.44
• Chhattisgarh – 4.25
• Jammu & Kashmir* – 4.00
• Maharashtra – 3.86

Includes combined data for J&K and Ladakh.

States with Lowest Inflation (%):

• Telangana – 1.06
• Jharkhand – 2.08
• Andhra Pradesh – 2.50
• Gujarat – 2.63
• Rajasthan – 2.66

Key Takeaways:

• Wide state-level variation suggests uneven impact of food prices and local supply dynamics.
• Southern states like Kerala and Karnataka saw elevated inflation, possibly due to higher food and fuel costs.
• Telangana’s low reading reflects effective price control and base effects.

PIB