‘When will PM Modi speak about people’s pain?’: Congress on inflation spike

The Congress on Tuesday criticised the Centre over rising inflation after retail price growth accelerated to a 17-month high in June, alleging that soaring prices have strained household budgets and increased the financial burden on ordinary families.

The attack came a day after official data showed that retail inflation, measured by the Consumer Price Index (CPI), rose to 4.38 per cent in June from 3.93 per cent in May, crossing the Reserve Bank of India's medium-term target of 4 per cent for the first time under the revised CPI series introduced in January with 2024 as the base year.

In a post on X, Congress general secretary Jairam Ramesh accused the BJP-led government of failing to shield people from rising prices and unemployment.

Claiming that inflation had steadily eroded household finances over the past 12 years, Ramesh said the latest figures reflected the pressure faced by ordinary families. He also noted that retail inflation in rural India stood at 4.74 per cent, higher than the national average.

The Congress leader further warned that persistent inflation could lead to higher interest rates, increasing equated monthly instalments (EMIs) on home and vehicle loans and placing additional pressure on middle-class households.

Questioning the government's economic priorities, Ramesh alleged that corporate profits were being protected while common citizens continued to bear the impact of inflation. He also asked when Prime Minister Narendra Modi would address the concerns of people affected by rising prices.

According to data released by the National Statistics Office (NSO), food inflation also edged higher in June, rising to 5.32 per cent from 4.78 per cent in May, largely driving the increase in headline inflation.

Among the items registering the sharpest price increases during the month were precious jewellery, including silver, gold, diamond and platinum, as well as ginger, tomatoes, raisins and monacca.

In contrast, potatoes, peas, motor cars and jeeps, cumin, and motorcycles and scooters recorded relatively low inflation.

Region-wise, retail inflation stood at 4.74 per cent in rural areas and 3.92 per cent in urban India, compared with the overall national rate of 4.38 per cent.

With IANS inputs