The Congress on Wednesday accused the Narendra Modi government of steering the country towards an economic crisis, citing the latest wholesale inflation data that showed price pressures remaining elevated across several sectors.
The party demanded that Prime Minister Narendra Modi explain the government’s handling of the economy.
“In May, Modi ji preached the entire country to save, and then his government imposed levies and burned up the public’s savings! West Asia War is just an excuse; the truth is that in the last 12 years, the BJP has built a dubious record of picking the public’s pockets. Wholesale inflation has now reached 9.87%, the highest in 44 months. Retail inflation has climbed to 4.4%, the highest in 18 months,” Congress president Mallikarjun Kharge said in a post on X, adding that food inflation too stands at 5.49%.
Congress general secretary Jairam Ramesh noted that wholesale price inflation, which measures the rise in prices at the producer level, rose to 9.87% in June from 9.68% in May, marking its highest level in 44 months.
In a post on X, he said the increase reflected mounting economic stress and claimed the Congress had repeatedly warned the government about the trend.
Mr. Ramesh also pointed to a 27.4% year-on-year increase in fuel and power prices, arguing that the sharp rise is pushing up input costs for industries and adding to inflationary pressures across the economy. He further claimed that agricultural sowing had fallen to a three-year low, attributing it to adverse weather and policy failures.
“The latest wholesale inflation data stands as stark evidence of the Modi government’s economic mismanagement,” he said, alleging that instead of tackling inflation, the Centre was attempting to divert public attention.
He said rising prices and unemployment were hurting households, while farmers were grappling with higher costs and weather-related challenges.
According to official data, food inflation under the Wholesale Price Index accelerated to 5.49% in June from 3.60% in May, driven by higher prices following a rainfall deficit linked to El Nino conditions. Inflation in non-food articles stood at 11.07%, while minerals recorded 9.45%. Inflation in manufactured products remained unchanged at 7.48%, while fuel and power inflation eased from 30.33% in May to 27.41% in June, though it remained elevated.
Published - July 15, 2026 01:12 pm IST