Rising Food Prices Push Inflation to Alarming Heights

The Congress criticized the government's handling of sharp rises in food prices, which have pushed retail inflation above the RBI's tolerance levels. With vegetable prices jumping 42.18% in October, and onions selling for Rs 80/kg in some areas, concerns grow amid stagnant wages and high unemployment.

In a pointed critique, the Congress raised alarms over soaring food prices that have propelled inflation to new heights, surpassing the Reserve Bank of India's upper tolerance level. With the rising cost of essentials, the economy faces mounting challenges, marked by stagnant wages and pervasive unemployment.

Statistics reveal a concerning trend as retail inflation surged to 6.21% in October, the highest in 14 months, driven primarily by a 42.18% spike in vegetable prices. Onions, a staple in Indian households, are retailing for as much as Rs 80 per kilogram in cities like Mumbai.

Despite the government's target to maintain retail inflation at 4%, with room for a 2% fluctuation, these escalating prices signal distress. Critics highlight the government's perceived inaction, suggesting the exclusion of food prices from inflation measures as a makeshift response to the crisis.

(With inputs from agencies.)