"Huge gift to people": AAP slams PM Modi on high wholesale inflation rate
May 15, 2024
Chandigarh (Punjab) [India], May 15 : The Punjab unit of the Aam Aadmi Party has slammed Prime Minister Narendra Modi over 13-month high wholesale inflation rate, saying that PM Modi has given a "huge gift" to his people.
"Well, PM Modi has given a huge gift to the people of the country in the form of the wholesome inflation rate which is 13-month high," AAP Punjab said in a post on 'X'.
On the skyrocketing price of vegetables, including potatoes and onions, the AAP said, "Prices of food articles rising sky high, making vegetable inflation rate up by 23.6%, including potatoes at 72% and onions at 60%."
In an attack on the Punjab Bharatiya Janata Party (BJP) chief Sunil Jakhar, the AAP questioned if Sunil Jakhar has the guts to raise questions on such a "sensitive public issue."
"Mr. @sunilkjakhar, do you have any GUTS to raise a question or even utter a word on this most sensitive public issue? Or have you completely SURRENDERED all your morals at the FEETS of your masters sitting in Delhi?" Jakhar said.
India's wholesale inflation rose to a 13-month high of 1.26 per cent in April 2024 (-0.8 per cent in April 2023) from 0.5 per cent in March 2024, led by fuel, food and core items, official data from the commerce ministry showed on Tuesday.
Experts said that despite global headwinds, the trajectory of WPI inflation in fuel and power remained low during April but the food inflation is still high.
Experts further highlighted that the pressure on food prices has been interrupting the disinflation process in India, and posing a challenge for the lowering of inflation trajectory to the 4 per cent target, as per the RBI's monetary policy target.
The industry experts also pointed out that while crude inflation has moderated recently after peaking in April, the surge in the commodity market may affect the growth of businesses and the inflation can surge further.ICRA (Investment Information and Credit Rating Agency) projects WPI inflation to harden further to 2.0-3.0 per cent in May 2024, amid the widening of the unfavourable base for items like food and crude oil
