High inflation due to daily rise in fuel prices: Chidambaram

His remarks came on a day when retail inflation rose to 6.3% in May

P. Chidambaram

Former Finance Minister P Chidambaram on Monday asserted that the daily rise in petrol and diesel is behind high inflation in the country.

"WPI Inflation is 12.94 percent. CPI Inflation is 6.3 percent. Do you want to know why? Fuel and Power inflation is 37.61 per cent. Thanks to PM Modi raising petrol and diesel prices every day,"Mr Chidambaram said in a series of tweets.

The Congress has been demanding a rollback of the recent hike in fuel prices and has arguing to bring petroleum products under the goods and services tax (GST) regime.

Mr Chidambaram’s remarks came on a day when retail inflation rose to 6.3% in May, mainly on account of back of costlier food items.

"Food inflation is 6.3 per cent. Do you know why? Pulses inflation is 9.39 percent. Edible oil inflation is 30 percent. These are high marks for competent economic management," the former Finance Minister added.