MoF scans retail inflation variations across states
finance ministry has initiated a comprehensive assessment of retail inflation rates to identify reasons for sharp interstate variations and firm up possible remedial measures, people familiar with the development said.
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The ministry may share its findings with states and suggest corrective steps for those that are witnessing consistently high price pressure. The findings could also encourage states that are already doing well to do even better, they told ET.
In the first half of this fiscal, retail inflation in 22 out of 35 states and Union Territories-including Maharashtra, West Bengal, Delhi, Gujarat, Punjab, Tamil Nadu, Telangana and Uttarakhand-were lower than the national average of 4.6%, showed the official data. In 15 of them, it was less than 4%. While the average inflation rate until November this fiscal inched up to 4.9%, the interstate variations barely altered.
Given that agriculture is a state subject and food products have been the biggest driver of retail inflation in recent years, the focus is also on removing structural barriers at the states' level, the people said.
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