New Delhi [India], December 13 (ANI): The middle and high-income states in the country have experienced a sharper decline in food inflation compared to low-income states, says a report by the State Bank of India (SBI). The report revealed significant differences in food inflation trends among Indian states over the last decade. This is reflected in a downward shift in food inflation distribution in wealthier states.
Also Read | Regina Cassandra Birthday: Most Fashionable Instagram Clicks of the Pretty Actress. It said "Middle and High-income states have shown higher decline in food inflation in last decade as compared to Low-Income States as reflected in downward shift of distribution" The report attributes this trend to labor migration from low-income states to high-income states in search of better employment opportunities. Also Read | Friday the 13th Meme Templates: Wash Away Your Fear With These Hilarious Jokes, Funny Memes, Images, Posts and Wallpapers That Blend Spooky With Fun.
It suggested that this migration is leading to faster disinflation in high-income states, while the decline in food inflation in low-income states remains relatively gradual. The report also highlighted that retail inflation across Indian states is gradually converging toward the Reserve Bank of India's target of 4 per cent. Using a Sigma-type methodology, the report stated that it found that the dispersion of inflation rates among states has been narrowing over the past decade.
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