Inaugurating the Supplyco Onam Fest, Vijayan stated that the Left administration was pleased with itself for honoring its electoral pledge not to raise the cost of 13 necessities for the average person.
According to Chief Minister Pinarayi Vijayan on Friday, Kerala, which is a consumer state, has combated inflation with “effective market interventions” and the rate of price growth is lower than the national average.
Amid worries about rising costs across the country, he noted that the state had the lowest inflation rate among the states. Inaugurating the Supplyco Onam Fest, Vijayan stated that the Left administration was pleased with itself for keeping its electoral pledge to keep the prices of 13 basic goods for the average person from rising.
The lowest inflation rate in the nation, he said, was in Kerala, accusing the Centre of “failing” to control prices.”Due to the State government’s efficient market involvement, Kerala has one of the lowest rates of inflation in the nation. Since our state is a consumer state, the price increase should typically also be felt here. However, all the data indicates that we were successful in keeping the inflation rate much below the national average, according to Vijayan.
When the Kerala State Civil Supplies Corporation (Supplyco) launched its network of Onam fairs, Vijayan said that the federal government had overlooked the effects of rising prices on the general populace.
The Left leader accused those with vested interests of ruining Supplyco’s reputation through false information, referring specifically to the opposition parties in the state who are protesting the company’s claimed inability to stop the price increase.
Days before Vijayan’s announcement, Prime Minister Narendra Modi had stated that further measures will be taken by the union government to reduce the burden of rising prices on the populace. A day after official statistics revealed that retail inflation soared to a 15-month high of 7.44 percent in July, the prime minister made his comments.
Retail inflation, which was mostly fueled by more expensive tomatoes, vegetables, and other food goods, exceeded the Reserve Bank of India’s comfort level of 6% for the first time this fiscal.
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Inflation measured by the Consumer Price Index increased sharply to 7.44 percent in July from 4.87 percent in June. The previous high for retail inflation was 7.79% in April 2022, while the current rate is 6.71% as of July 2022. Retail inflation has been within the RBI’s target range of 2 to 6 percent this fiscal year until June, despite staying above the top limit for most of the 2022–23 fiscal year.
