India’s overall inflation rate is lower than South Africa and Russia, two key emerging market peers in the BRICS grouping of nations.Which country has recorded higher prices compared to India ?

Solution

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).  Among the advanced economies, only the UK has recorded higher prices compared to India.