‘PM says sab changa si, but sab mehenga si’ Congress on WPI inflation
To compound the misery, according to CMIE data, inflation-adjusted wages have also been consistently falling with a 5.7% drop since April, Jairam Ramesh said
The Congress party criticized the government's handling of recent Wholesale Price Index (WPI) data, alleging that Prime Minister Narendra Modi's claims of improvement are misleading. According to the government's data, wholesale price-based inflation increased to 9.92% in August, up from 9.78% in July, driven by surging prices in food, manufactured goods, and fuel and power sectors.
Food inflation rose to 7.05% in August from 6.65% in July, while manufactured items saw the highest WPI inflation of 8.37%, surpassing the 8.29% in July.
Congress general secretary in-charge of communications, Jairam Ramesh, highlighted on X that the government's data revealed the WPI inflation had been hovering around 10% for four consecutive months. He emphasized that the prices of essential commodities have continued to rise, causing significant hardships for millions of families.
Ramesh further pointed out that despite the government's assurances, inflation-adjusted wages have been steadily declining, with a 5.7% drop since April. Notably, rural wages in particular saw a massive 9% decline, even in nominal terms, underscoring the broader economic struggles faced by the populace. Ramesh reiterated the Congress's stance that while the Prime Minister continues to claim "sab changa si" (all is well), the reality remains "sab mehenga si" (everything is expensive).
This commentary was fueled by the upward trajectory of the WPI since the start of the fiscal year, exacerbated by geopolitical tensions in West Asia, the blockade of the Strait of Hormuz, and subsequent global increases in crude oil and fertilizer prices, which subsequently impacted food prices.
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