Jammu and Kashmir has witnessed 3.5 percent increase in the cost of living for the month of March year-on-year, as measured by Consumer Price Index (CPI). The retail inflation rate is up by 48 basis points as compared to February.
According to the data released by the Government of India on Tuesday, the all India inflation for the March is 4.83 percent down by February's 5.26 percent. However the food inflation rates are still higher at 5.21 percent.
According to the CPI figures the inflation rate in the rural areas of the state is at 4.3 percent and for urban areas it is up by 2.19 percent.
CPI is a comprehensive measure used for estimation of price changes on yearly basis in a basket of goods and services representative of consumption expenditure across India.