Former Union minister and veteran Congress leader P Chidambaram attacked Union finance minister Nirmala Sitharaman on Tuesday over the rise of the inflation rate to 7 per cent in August and said if she did not see this as a "threat", she "does not represent the average family in India".
The data released by the statistics ministry on Monday showed that consumer prices - driven by high food and fuel costs - rose to 7 per cent up from 6.71 per cent in July. The data marked a drift from the previous trend as inflation was on the decline for the last three months.
"Only a few days ago, the Honourable FM said that inflation was not a 'red-lettered priority' for her. India's retail inflation surged to 7 per cent yesterday. Food inflation is 7.62 per cent," Chidambaram tweeted.
{{/usCountry}}"Only a few days ago, the Honourable FM said that inflation was not a 'red-lettered priority' for her. India's retail inflation surged to 7 per cent yesterday. Food inflation is 7.62 per cent," Chidambaram tweeted.
{{/usCountry}}"If the Honourable FM doesn't see 'red' even now, we can only conclude that she does not represent the average family in India," the former finance minister added.
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Inflation is determined by the consumer price index (CPI ) - measuring price change for a basket of goods and services over time. Food items make up half of this inflation basket and were at 7.62 per cent in August, raising concerns among economists as the trend breached the estimated rates and has kept above the Reserve Bank of India’s upper band of 6 per cent for eight consecutive months now.