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Samajwadi Party (SP) Chief Akhilesh Yadav slammed the BJP-led Central government over the weakening rupee, inflation and expressed concern over the long-term implications of the West Asia crisis on the Indian economy.
"One can never expect accurate figures from the Government of India and the BJP... Inflation is rising, and the rupee is falling. A cup of tea now costs Rs 20-25. We are unable to control petrol and diesel prices. If inflation continues to rise like this, what state will our economy be in? How will the country be run?...", he told ANI "The country's only issue is the BJP, and the problem can be resolved only when the BJP is removed (a change in government at the Centre)..." He also responded to the MEA summons to US Charge d'Affaires Jason Meeks to protest strikes on ships. "While this is the Government of India's decision, our foreign policy is so weak... This summons is like a message conveying that we are adopting a tough stance. India cannot take on a country like the US. Our country changed many policies for the US, yet their policies landed us in trouble..." Akhilesh Yadav's remarks follow the death of three Indian sailors in a U.S. military strike on a commercial tanker in the Gulf of Oman. The vessel, MT Settebello, came under fire on Wednesday after U.S. forces accused it of violating the ongoing naval blockade on Iranian ports. Of the 24 Indian crew members on board, 21 were rescued, while the three others were later confirmed deceased. Meanwhile, India's retail inflation, measured by the Consumer Price Index (CPI), rose to 3.93 per cent in May from 3.48 per cent in April, according to data released by the National Statistics Office (NSO) on Friday. The Ministry of Statistics and Programme Implementation (MoSPI) said, "Year-on-year inflation rate based on All India Consumer Price Index (CPI) with base year 2024 for the month of May, 2026 over May, 2025 is 3.93% (Provisional)." The corresponding inflation rates for rural and urban areas stood at 4.25 per cent and 3.53 per cent, respectively. Food inflation also moved higher during the month. According to the release, "Year-on-year inflation rate based on All India Consumer Food Price Index (CFPI) for the month of May, 2026 over May, 2025 is 4.78% (Provisional)." Rural food inflation was recorded at 4.85 per cent, while urban food inflation stood at 4.66 per cent. Among major expenditure categories, food and beverages inflation stood at 4.55 per cent, while restaurants and accommodation services recorded inflation of 5.75 per cent. Personal care, social protection and miscellaneous goods and services witnessed the highest inflation among broad divisions at 18.46 per cent. Housing inflation was recorded at 2.12 per cent during May. The release said, "Year-on-year Housing inflation rate for the month of May, 2026 is 2.12% (Provisional)," with rural and urban housing inflation at 2.73 per cent and 1.91 per cent, respectively. At the item level, silver jewellery recorded the highest inflation at 155.23 per cent in May, followed by tomato at 48.43 per cent, gold/diamond/platinum jewellery at 40.93 per cent and ginger at 32.49 per cent. On the other hand, potato prices remained sharply lower, with inflation at (-)23.71 per cent. Peas recorded inflation of (-)11.47 per cent, while motor car and jeep prices declined 7.19 per cent year-on-year. Among states with a population of over 50 lakh, Telangana recorded the highest retail inflation at 6.15 per cent in May, followed by Tamil Nadu at 5.11 per cent, Andhra Pradesh at 4.90 per cent, Karnataka at 4.59 per cent and Odisha at 4.54 per cent. (ANI)
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