Why not pass benefits to people despite negative WPI: Cong asks Centre

New Delhi, June 16 The Congress on Friday questioned the Centre that despite a negative wholesale price Index (WPI), why wasn't the people benefiting out of it.

Addressing a press conference at the party headquarters here, party spokesperson Gourav Vallabh said: "Retail inflation measured by the consumer price index (CPI), was at 4.25 per cent in May 2023, according to the latest data from the Ministry of Statistics and Programme Implementation."

He said that inflation data on WPI is calculated by measuring a change in overall prices of goods before selling at retail prices.

In contrast, the CPI measures the changes in the price level of a basket of consumer goods and services bought by final consumers, the spokesperson noted.

Citing the list of items in which WPI had fallen by more than 10 per cent and their corresponding CPI data for the month of May, he said that the WPI for vegetables, potato, oil seeds and oil fats in stood at -20.12 per cent, -18 71 per cent, -15 65 per cent and -29.54 per cent, respectively.

Whereas, the CPI for these products is plus 3.29 per cent, Vallabh said.

He also said that crude petroleum witnessed a drop of -27.01 per cent, whereas LPG saw -24.35 per cent.

Even on petrol, the WPI stood at -9.45 per cent and high speed diesel at -17.03 per cent. However, CPI on fuel and light stood at plus 4.64 per cent, he said.

"In this regard, we have four specific demands from the Modi government, when prices of most essential commodities are falling in the wholesale market, why are the benefits of falling prices not transferred to final consumers? When WPI numbers for May 2023 for Vegetables, Potato, and Oil Seeds are at -20.12 per cent, -18.71 per cent, and -15.65 per cent, respectively, and when the same product was purchased by farmers for self-consumption CPI on Food and Beverages is +3.29 per cent. So farmers are selling their products at lower prices and buying them for self-consumption at higher prices. Is this the method for doubling farmers' income?

"When on May 23, WPI numbers for crude petroleum and LPG had a contraction of -27.01 per cent and -24.35 per cent, respectively, why in retail market prices of LPG, petrol and diesel not reduced and the government enjoyed the entire benefit of this contraction?" he questioned.

The Congress leader said why the "suit boot ki sarkaar" is just acting as a mere spectator and keeping silent when wholesalers and the government is benefiting from falling prices of the majority of essential commodities and final consumers are not getting any benefit.

He said that all the data he kept in the domain are from the one shared by the government on June 14.

aks/ksk/