CPI on Saturday demanded the resignation of Union Finance Minister P Chidambaram accusing him of failing to tackle inflation, which has risen to a seven-year high of 8.75 per cent.
Party general secretary A B Bardhan said inflation is expected to further increase in the coming weeks and the Finance Minister has "failed" in taking adequate measures to check the trend.
"He (Chidambaram) is not able to find any solution to the problem. He should go," Bardhan told reporters in New Delhi.
The senior CPI leader said he would not blame the whole UPA on the issue but the Finance Minister has "failed" in controlling the situation.
Inflation touched 8.75 per cent by May end, the highest during the UPA government's tenure, mainly due to rising prices of food articles and vegetables.