Chidambaram criticises FM for rising inflation

 
Chidambaram criticises FM for rising inflation

New Delhi: If Union Finance Minister Nirmala Sitharaman does not see “red” in retail inflation rising to 7% now, it can be concluded that she does not represent the average family in India, said senior Congress leader P Chidambaram on Tuesday. Higher food prices led to the rise in inflation in August.

In a tweet, he said, “Only a few days ago, the Honourable FM said that inflation was not a “red-lettered priority” for her. India’s retail inflation surged to 7 per cent yesterday. Food inflation is 7.62 per cent.”

Inflation based on consumer price index, which is factored in by RBI while deciding the monetary police has remained about thecentral bank’s comfort level of 6% for eight months in a row.  CPI inflation was 6.7% in July and 5.3% in August last year. Data released by the National Statistical Office (NSO) on Monday says that higher food prices have caused inflation of 7.62% in August this year. In comparison to last year’s inflation, it has shot up by 6.69%.