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Congress attacks Modi government over rising wholesale inflation data
Prices in India became more expensive in August, according to government data.
Wholesale inflation rose to 9.92% from 9.78% in July.
Food prices also rose faster than before.
Prices of manufactured goods reached their highest reported level in the series.
Congress leader Jairam Ramesh criticized the government over the figures.
He said essential goods were becoming harder for families to afford.
He also said wages, especially in rural India, were falling after adjusting for inflation.
Congress used the phrase “sab mehenga si” to argue that things were not actually all well.
The report linked rising costs partly to the West Asia war and disruption around the Strait of Hormuz.
Wholesale price-based inflation rose to 9.92% in August from 9.78% in July.
Food-index inflation increased to 7.05% in August from 6.65% in July.
Manufactured-items inflation reached a series high of 8.37%, up from 8.29%.
Congress leader Jairam Ramesh said WPI inflation had remained near 10% for four consecutive months.
Ramesh cited falling inflation-adjusted wages, including a 5.7% overall decline and a 9% rural decline since April.
- Who
- The Congress, represented by general secretary Jairam Ramesh, criticized Prime Minister Narendra Modi’s government.
- What
- Congress criticized rising wholesale inflation after WPI inflation reached 9.92% in August.
- Where
- India; the report also referenced disruption at the Strait of Hormuz.
- When
- The data and Congress reaction were reported on Monday, September 14; the articles do not specify the year.
- Why
- Prices rose amid higher food, manufactured-goods, fuel and power costs, with the report linking some increases to the West Asia war and the resulting Strait of Hormuz blockade.
Key facts
- August WPI inflation
- 9.92%
- July WPI inflation
- 9.78%
- August food-index inflation
- 7.05%, up from 6.65% in July
- August manufactured-items inflation
- 8.37%, a series high
- Inflation-adjusted wage change
- Down 5.7% since April, according to data cited from CMIE
- Rural wage change
- Down 9% according to Jairam Ramesh’s cited data
- Congress slogan
- “Sab mehenga si,” meaning “everything is expensive”
Quotes
Jairam Ramesh
Congress general secretary in charge of communications
“Official data just released shows that for four consecutive months now the WPI (Wholesale Price Index) inflation has been hovering around 10%. Prices of all essential commodities have continued their upward rise causing huge hardships to crores of families.”
telegraphindia.com
theprint.in
“To compound the misery, according to CMIE data, inflation-adjusted wages have also been consistently falling with a 5.7% drop since April. Rural India has seen a massive 9% decline – even in nominal terms rural wages have fallen.”
theprint.in
Sources
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