Kerala, which is a consumer state, has tackled inflation with “effective market intervention” and price rise is lower than the national average, Chief Minister Pinarayi Vijayan said on Friday.

Amid concerns over rising prices across the country, he said the states also have the lowest rate of inflation.

Inaugurating the SUPPLICO Onam festival, Vijayan said the Left government was proud that it had kept its election promise of not increasing the prices of 13 essential commodities for the common man.

Accusing the Center of ‘failing’ to control prices, he claimed that the inflation rate in Kerala is the lowest in the country.

“Kerala has one of the lowest inflation rates in the country due to effective market intervention by the state government. We are a consumer state, so price rise should normally be reflected in our state as well. were able to keep it well below the national average,” Vijayan said.

Inaugurating the state-wide network of Onam fairs by the Kerala State Civil Supplies Corporation (Supplico), Vijayan said the central government has ignored the impact of the price hike on the people.

Hitting out at the opposition parties in the state protesting against the alleged failure of Supplyco to check price rise, the Left leader said people with vested interests were maligning the corporation through misinformation.

Praising the corporation, he said, “Supplico registered a turnover of Rs 252 crore in the last financial year, while this year the turnover is Rs 270 crore.”

The CM said that one of the major promises made by the previous LDF government when it came to power was not to increase the prices of 13 essential commodities for the common man.

“The government is proud that it has been able to follow through till date,” he added.

Vijayan said district-level supply stalls would function from tomorrow and taluk-level melas from August 23, with modern supermarket-like facilities.

Steps have been taken to distribute five kilos of rice through ration shops to the white and blue card holders of the state in connection with the Onam festival season.

“The consumer association’s 1,600 onachanthas (markets during Onam season) will be opened soon. The government is intervening in the market to make essential commodities available to all at affordable prices,” he said.

Vijayan’s statement came days after Prime Minister Narendra Modi said that the central government will take more steps to control inflation and reduce the burden of price rise on the people.

The PM’s remarks came a day after official data showed retail inflation rose to a 15-month high of 7.44 per cent in July.

For the first time in the current fiscal, retail inflation, driven mainly by costlier tomatoes, vegetables and other food items, has crossed the Reserve Bank of India’s comfortable level of 6 per cent.

Inflation based on the Consumer Price Index rose to 7.44 per cent in July, higher than 4.87 per cent in June. Retail inflation stood at 6.71 per cent in July 2022 and the previous high was recorded in April 2022 at 7.79 per cent.

The RBI has a mandate to keep retail inflation in the range of 2 to 6 per cent and after staying above the upper limit for most of the 2022-23 financial year, inflation was in the central bank’s comfort zone till June this fiscal.

(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content was auto-generated from a syndicated feed.)


Leave a Reply

Your email address will not be published. Required fields are marked *