 "inflation")
As many as nine states have recorded a higher rate of inflation compared to the national average in October.
While the average Indian consumer’s cost of living rose by 4.87 per cent in October compared to the previous year, it increased by 6.47 per cent in Odisha, 6.25 per cent in Rajasthan, and 6.02 per cent in Haryana. States like Bihar, Karnataka, Punjab, Telangana, Gujarat, and Uttar Pradesh—all of which have a higher inflation rate than the national average—recorded a price rise between 5.06 per cent and 5.63 per cent.
Meanwhile, India’s overall inflation rate is lower than South Africa and Russia, two key emerging market peers in the BRICS grouping of nations (Brazil, Russia, India, China, and South Africa). Prices rose by 5.4 per cent in South Africa and by 6.69 per cent in Russia. China, on the other hand, recorded a negative inflation of -0.2 per cent compared to the same period last year, an indication of a weak economic recovery since the pandemic.
Among the advanced economies, only the UK has recorded higher prices compared to India. While the UK reported retail inflation of 6.7 per cent and the USA of 3.7 per cent (as of September), it was at 3.3 per cent in Japan, 3.8 per cent in Germany, and 4 per cent in France in October.
