The Commerce and Industry Ministry said that high rate of inflation in October 2021 is primarily due to rise in prices of mineral oils, basic metals, food products, crude petroleum & natural gas, chemicals and chemical products etc as compared to the corresponding month of the previous year.
However, on YoY basis, the rise in last month's retail inflation was slower than 7.61 pc rise recorded for Oct 2020.
A day before Diwali, Rahul Gandhi said, "I wish the Modi government had a sensitive heart for the public."
In his statement, Mahendra Singh Sisodia said since the income of people has increased, they will have to accept the rising prices of commodities as well.
Chaturvedi said that the PM Modi-led government is increasing prices incessantly and is offering no relief to the common man.
In a tweet, Gandhi quoted a news report that price rise has hit common people hard with petrol becoming dearer by Rs 2.35 and diesel by Rs 3 in 11 days.
The RBI has projected substantial softening in retail inflation in the near term on the back of easing food prices and favourable base effect.
As per the data released by the National Statistical Office (NSO), inflation in the food basket was 3.11 per cent in August compared to 3.96 per cent in the preceding month.
The RBI had decided to use the 2 percentage point cushion to keep the inflation within the 2-6 percent target band as a result of the pandemic to push growth, Das said, adding that the Monetary Policy Committee (MPC) will take a call on continuing with the accommodative stance.
Rahul Gandhi on Wednesday had attacked the government on inflation.
The protest was organised as part of the party's events held across the country to mark the anniversary of 'August Kranti' -- the 'Quit India' call by Mahatma Gandhi in 1942.
"The path of the economy continues to depend on course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain," the Fed said in a statement after concluding a two-day meeting, Xinhua reported.
Snapping the five straight months of uptick, the wholesale price index (WPI)-based inflation in June softened as prices of food articles and crude oil eased, even though manufactured products hardened.
The so-called core personal consumption expenditure price index, the Fed's preferred inflation measure, jumped 3.4 per cent in May from a year ago, the largest 12-month increase since April 1992, Xinhua news agency quoted the Dept as saying on Friday.
At the start of the pandemic, food supply chain disruptions, a shift from food services (such as dining out) towards retail grocery and consumer stockpiling (coupled with sharp appreciation of US dollar) pushed up consumer food price indices in many countries.
The Congress on Thursday said it will launch a nationwide protest campaign from July 7 to 17 to highlight the plight of the people and alleged government apathy towards the public.
India’s retail inflation surged to 6.30 per cent in the month of May, over and above the Reserve Bank of India’s (RBI) threshold of 6 per cent, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed on Monday.
This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent
Bharatiya Kisan Union (BKU) leader Rakesh Tikait on Tuesday said that if someone raises its voice against the government, they are punished and compared the government North Korea.
Shiv Sena veteran leader Sanjay Raut backed Congress Wayanad MP Rahul Gandhi over his false image remark on Prime Minister Narendra Modi. Backing Gandhi, Raut said that he is a senior leader and former Congress president and leaders should take his words seriously.
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