How inflation in poll-bound MP, Rajasthan, Chhattisgarh, Karnataka, Telangana fared in FY23

Five Indian states, namely Madhya Pradesh, Rajasthan, Chhattisgarh, Karnataka, and Telangana are going for assembly elections in the coming months ahead of general elections in 2024. Inflation is one of the major factors that comes into focus during elections.

Overall, India’s retail inflation for February 2023 registered a slight decline to 6.44 per cent from 6.52 per cent last month. However, different states have posted different numbers for state-level inflation. Inflation numbers in Indian states vary in a wide range from 2.58 per cent to 8.56 per cent.

Let’s have a look at the performance of the states that are going for assembly polls in the near term.

Chhattisgarh

Chhattisgarh has been the top-performing state in controlling inflation in FY23 so far. February inflation for the state came at 2.38 per cent, down from 2.87 per cent in January and well below the national average of 6.44 per cent in February. In FY23, inflation in Chhattisgarh hovered in the range of 2.38 per cent to 7.31 per cent. While the country’s inflation stood in the range of 5.72 per cent to 7.79 per cent so far in FY23.

Karnataka

Karnataka has also performed better in fighting inflation in FY23. Inflation in February stood at 6.03 per cent, which remained below the national average. Inflation in Karnataka stood in the range of minimum at 4.19 per cent to a maximum of 6.39 per cent so far in 2022-23 till February. Inflation in Karnataka always remained lower than India’s national average inflation for every month in FY23.

Rajasthan

The latest inflation figure for February came at 6.78 per cent, which is slightly higher than the national average of 6.44 per cent. In January, the figure was at 6.71 per cent for the state. Inflation in Rajasthan in the past eleven months of FY23 fluctuated in a range of 6.01 per cent to 8.12 per cent, according to data available with Mospi.

Madhya Pradesh

Inflation in Madhya Pradesh (MP) stood at 7.65 per cent in February. The figure stood one percentage point higher than the national average. In FY23 so far, Inflation fluctuated in a range of 6.64 per cent to 9.1 per cent in MP.

Telangana

The latest inflation figures in Telangana came at 8.56 per cent in February 2023, which was almost similar to the January reading of 8.58 per cent. Monthly inflation figures in Telangana also stood higher than the country’s average all through in FY23 till February. The state recorded minimum inflation of 7.81 per cent in December 2022, while the maximum inflation stood at 10.05 per cent in June 2022.

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