High inflation due to daily rise in fuel prices: Chidambaram
Former Finance Minister of India
P. Chidambaram on Monday asserted that the daily rise in prices of petrol and diesel is behind high inflation in the country.
"Wholesale Price Index Inflation is 12.94 percent. Consumer Price Index Inflation is 6.3 percent. Do you want to know the reason behind it? Fuel and Power inflation is 37.61 per cent. Thanks to PM Modi raising petrol and diesel prices every day,"Mr Chidambaram said in his series of tweets.
The Congress has been demanding a rollback of the recent rise in fuel prices and has arguing to bring petroleum products under the Goods and services tax (GST) regime.
Mr Chidambaram’s remarks came on a day when retail inflation hiked to 6.3% in May, mainly on account of back of costlier food items.
"Food inflation is now at 6.3 per cent. Do you know the reason? Pulses inflation is now at 9.39 percent. Edible oil inflation is now at 30 percent. These are high marks for capable economic management," the former Finance Minister also added.