Jammu: The Economic Survey Report 2025 highlights that inflation in Jammu and Kashmir remained relatively stable, fluctuating between 3.8% and 4.5% from 2019 to 2024, compared to the national inflation range of 3.7% to 5.0% during the same period.
Despite global economic disruptions, effective government interventions helped mitigate severe inflationary impacts on J&K’s economy.
In 2024, inflation in J&K rose to 4.5% from 4.3% in 2023, marking a marginal increase of 0.2 percentage points.
In contrast, at the national level, inflation saw a decline from 5.7% in 2023 to 5.0% in 2024, reflecting a broader economic stabilization trend. The data suggests that J&K’s inflationary trends have been more controlled compared to other regions, ensuring minimal disruption to the local economy.
The Consumer Price Index (CPI) for food and general commodities for agricultural laborers in J&K, as of November 2024, ranks sixth lowest among nine selected states, with only Himachal Pradesh, Uttar Pradesh, and Madhya Pradesh recording lower figures. This indicates that the cost of living for agricultural laborers in J&K is lower than in states like Punjab, Haryana, Gujarat, Rajasthan, and Maharashtra. However, the CPI-Food Index for agricultural laborers in J&K stands at 1262, nearly at par with the national level of 1265, while the CPI-General Index for J&K (1241) remains below the national average of 1320.
The report underscores that while inflationary pressures exist, J&K has managed to maintain economic stability through targeted policies and interventions. The government’s measures have ensured that the cost of essential commodities remains manageable, protecting the purchasing power of the people. As the global economy continues to recover from inflationary shocks, J&K’s balanced inflation trends indicate resilience and effective fiscal management.
