Congress leader P Chidambaram slams Nirmala Sitharaman over retail inflation, says FM doesn't see 'red'

Congress leader P Chidambaram tweeted, "Only a few days ago, the Honourable FM said that inflation was not a  'red-letter priority' for her. India's retail inflation surged to 7 per cent yesterday, and food inflation is 7.62 per cent. If the Honourable FM does not see 'red' even now, we can only conclude that she does not represent the average Indian family."

A senior Congress leader and former finance minister P Chidambaram, slammed finance minister Nirmala Sitharaman on Tuesday, saying that if she doesn't see 'red' even now, it can be concluded that she does not represent the average Indian family.

Retail inflation rose to 7 per cent in August after falling for three months due to higher food prices.

"Only a few days ago, the Honourable FM said that inflation was not a  'red-letter priority' for her," Chidambaram said in a tweet. "India's retail inflation surged to 7 per cent yesterday, and food inflation is 7.62 per cent."

"If the Honourable FM does not see 'red' even now, we can only conclude that she does not represent the average Indian family," said the former finance minister.

The Consumer Price Index (CPI)-based inflation, which the RBI considers when determining monetary policy, has remained above the central bank's comfort level of 6 per cent for the past eight months. In July, CPI inflation was 6.71 per cent and 5.3 per cent in August 2021. 

According to data released on Monday by the National Statistical Office (NSO), food basket inflation was 7.62 per cent in August, up from 6.69 per cent in July and 3.11 per cent in August 2021.

(With inputs from PTI)