arun jaitley EPFO

Finance Minister Arun Jaitley will meet top ministers in New Delhi on Wednesday, to discuss the rising prices of food as consumer inflation hit a two-year high.

According to reports, Consumer inflation or consumer Price Index (CPI) climbed to 5.76% in May compared to 5.47% in April this year and 5.01% in the year-ago period.

Food prices, which account for nearly 50% weightage in retail inflation, jumped 7.55% from 6.40% compared to in April.

In wholesale prices, food inflation rose to 7.88% compared 4.23% in the month.

Inflation in vegetables came in at 12.94%, a sharp rise from 2.21%, a month earlier. Pulses inflation remained stubborn at 35.56%.

According to NDTV, Industry body FICCI has asked the government for a “more proactive management” of food supply and has said it hopes “inflation will remain within the RBI’s indicative trajectory”