FICCI comments on WPI numbers

New Delhi, September 14, 2017: Commenting on the latest WPI based inflation numbers, Mr.Pankaj Patel, President, FICCI said “The increase in the inflation numbers is largely on account of the jump seen in prices of food articles and fuel items. There has been a significant uptick in inflation in case of fruits and vegetables. There have been such episodes in the past and we need to double up our efforts to boost agri-production as well as improve the distribution and supply chains. The localised impact of uneven distribution of rainfall on agriproduction will have to be minimised through measures on the supply side including through better storage infrastructure for agri-commodities.”
“While the spurt in inflation is a matter of concern, we hope that RBI takes a balanced view given the anaemic industrial growth scenario. The need for a further cut in interest rates to stimulate demand and growth in the economy cannot be overemphasised. From the perspective of jobs and fresh employment opportunities, all policy levers at the disposal of government and RBI should be utilised even as further steps are taken to augment agri-production and improve the supply side logistics”, Mr. Patel added.