Protestors block roads in Kolkata over price rise

Posted By: Staff
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Kolkata, Mar 16 (ANI): Socialist Unity Centre of India (SUCI) activists blocked roads in Kolkata on Monday as a mark their mass protest against the rising prices of essential commodities.

Holding banners, placards and party flags, the activists of SUCI raised slogans against the price rise in the country and also stalled vehicular traffic for over half-n-hour. "It is against price rise and for example, high oil price, petrol, diesel hike including 12 demands, twelve number of demands," said Shyamal Guha Majumdar, a member of SUCI staging the protest.

The high inflation was mainly due to the continued rise in food prices, which climbed 17.8 percent from a year earlier in February.

Annual wholesale price inflation accelerated to 9.89 percent in February, the highest since October 2008 and well above the Reserve Bank of India's end-March projection of 8.5 percent and the 8.56 percent January reading.

The inflation data comes on the heels of a 16.7 percent annual jump in industrial output in January, with the unexpectedly strong economic pickup also backing the case for the central bank to raise policy rates by at least 25 basis points. (ANI)

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