Congress leader Rahul Gandhi has cautioned that inflation would rise further and urged the Centre to “act now to protect the people of the country”.
Asserting that inflation is a tax on all Indians, Gandhi said that the record price rise had crushed the poor and the middle class, even before the Russia-Ukraine war began.
“It (inflation) will increase further as: – Crude > $100/barrel – Food prices expected to rise 22% – COVID disrupts Global Supply Chain,” Gandhi said in a tweet.
“GOI must act NOW. Protect people,” Gandhi said in the tweet.
Inflation is a TAX on ALL Indians.
Record price rise had crushed the poor & middle class even before Ukraine war began.
It will increase further as:
– Crude > $100/barrel
– Food prices expected to rise 22%
– COVID disrupts Global Supply ChainGOI must act NOW. Protect people. pic.twitter.com/yR2Pk7Asaf
— Rahul Gandhi (@RahulGandhi) March 19, 2022
According to government data, retail inflation hit an eight-month high of 6.07 per cent in February and wholesale price-based inflation soared to 13.11 per cent, on account of hardening of crude oil and non-food item prices.
Food inflation has also gone up and stands at 4.48 per cent and 4.45 per cent in February 2022, compared to 4.15 per cent and 4.33 per cent respectively in January 2022.
Also read: Indian firms buy more oil from Russia at deep discounts
The rise in crude oil and natural gas prices after the Russian invasion of Ukraine, which began on February 24, has put pressure on the wholesale price index.
(With inputs from Agencies)