Prices rise, household savings fall but PM busy in rallies

Wholesale Inflation last month was the highest since December, 2013, reveal figures released by the ministry of commerce. Retail Inflation was also at a five-month high. The inflationary push has come from the surge in petroleum prices and the prices of several food items.

The crude petroleum and natural gas segment witnessed inflation surging to 48.7% in June from 26.9% in the previous month.

Congress spokesman Randeep Surjewala claimed that prices of several food items had increased from 10% to 55% between May, 2014 and July, 2018. The cost of Atta (flour), he said, had increased from ₹18/Kg to ₹40/Kg, sugar from ₹30 to ₹46. He released a table giving details of the price rise in select food

While household savings have dropped and inflation has made a hole in people’s pockets, Prime Minister Modi and his union ministers are busy addressing rallies and dividing people, added Surjewala sarcastically.

With the economy moving from bad to worse and the International Monetary Fund cutting down on India’s GDP projections, the Government needed to address the situation. But instead Arun Jaitley seems busy blogging on social media on opposition unity and union ministers are holding press conferences on what the Congress President Rahul Gandhi may have said or tweeted, he added.