Leader of Opposition Rahul Gandhi on Saturday raised concerns over a possible rise in inflation, linking it to the weakening rupee and increasing fuel prices amid ongoing global tensions.

Rupee fall and inflation warning

In a post on X in Hindi, Gandhi said the recent economic signals point towards rising price pressures. "The rupee weakening against the dollar and heading towards 100, along with a sharp rise in industrial fuel prices — these aren't just numbers; they're clear signals of the inflation to come," he wrote.

His remarks came after the rupee fell 64 paise to close at a record low of 93.53 against the US dollar, influenced by rising crude oil prices and global investor caution.

'Impact will hit every household'

Gandhi said the effects of these developments would be felt across sectors, adding that the situation goes beyond what may be described as "normal".

He outlined four key areas of concern, stating the situation would have a "direct and deep impact on every family's pocket":

"Production and transport will become more expensive;

MSMEs will be hit the hardest;

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Prices of everyday items will go up; and

FII money will flow out even faster, putting more pressure on the stock market."

He further added, "And it's just a matter of time—after the elections, prices of petrol, diesel, and LPG will be hiked too."

Taking aim at the Centre, Gandhi said, "The Modi government has neither direction nor strategy – just empty rhetoric. The question isn't what the government is saying – it's what's left on your plate."

LPG concerns and supply pressure

His remarks come amid reports of LPG supply concerns linked to disruptions in West Asia. The ministry of petroleum and natural gas has advised commercial users to shift to piped natural gas where possible.

Despite assurances of adequate supply, reports of long queues and panic buying have emerged in some regions. In Kerala, the situation has reportedly led to temporary shutdowns of some restaurants and hotels.

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Tharoor points to global factors

Senior Congress leader Shashi Tharoor attributed the rupee's fall to external factors, saying it is "because of international forces beyond our government's control".

He also said the situation should be viewed in a broader global context, referring to similar currency movements in the past.