Inflation will come down to 6 Pc by Dec: Montek

Says that by September, inflation will be on a steady decline

PTI | August 6, 2010



Planning Commission deputy chairman Montek Singh Ahluwalia on Thursday said inflation will come down by September and reach the comfortable level of 6 per cent by December.

"Inflation will come down by September-end. You can see that in the monthly inflation data released in mid-October for the month of September," Ahluwalia told reporters here.

"I have been consistent on this, that inflation will come down," he said.

For the week ended July 24, food inflation slipped to 9.53 per cent due to cheaper prices of vegetables, fruits and sea fish. However, wholesale price-based inflation stood at 10.55 per cent in June.

Earlier in the day, Ahluwalia said, "Inflation right now is a problem and the government recognises that... in my judgment, by the end of this year, it will not be what it is now. It will be much closer to 6 per cent, which most people regard as a comfortable level."

"What we are seeing today is not something which has not happened before," he said, adding that inflation had touched double digits in the past as well.

Yesterday, Finance Minister Pranab Mukherjee told the Lok Sabha that both the states, as well as the Centre, will have to collectively address the issue of fighting inflation and take concrete steps, including revamping of the public distribution system (PDS).

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