Mukherjee expects inflation to moderate

India's inflation is expected to moderate if the current easing trend in weekly food and fuel prices continues, Finance Minister Pranab Mukherjee said on Thursday after the latest weekly inflation figures showed food inflation at a nine-week low.

November 24, 2011 / 15:05 IST

India's inflation is expected to moderate if the current easing trend in weekly food and fuel prices continues, Finance Minister Pranab Mukherjee said on Thursday after the latest weekly inflation figures showed food inflation at a nine-week low.

India's food price index rose 9.01% and the fuel price index climbed 15.49% in the year to November 12, government data showed. In the previous week, annual food and fuel inflation stood at 10.63% and 15.49%, respectively.

"If this trend continues for the next two weeks for the month of November, I hope there will be a moderation in inflation," Mukherjee said.

India's headline inflation in October hovered above 9% for the 11th month, in further evidence of the central bank's inability to achieve a breakthrough in its fight against price rises.

first published: Nov 24, 2011 01:26 pm

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