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Inflation may fluctuate for couple of months: Mukherjee


March 20, 2012 - New Delhi

Finance Minister Pranab Mukherjee has said that India's headline inflation rate, based on the wholesale price index, is likely to fluctuate for a couple of months. "For a couple of months there will be fluctuations and after that, I do feel that it would be possible for us to settle it, but please remember, it will not come down very drastically to 4.50 per cent. I am always maintaining that it would be around 6.50 to 7 per cent, for the year as a whole," Mukherjee told media here.

The wholesale price index edged up a faster-than-expected 6.95 percent from a year earlier in February after a spike in vegetable prices fanned food inflation. Wholesale prices had risen an annual 6.55 percent in January, the slowest in 26 months. Mukherjee also expressed his optimism in the nation's ability to weather the ongoing global economic crisis.

"In the past also, when there were difficult economic situations, the country collectively showed its resilience and capacity to deal with the crisis. I have no doubt, present situation also we shall overcome through our collective efforts," Mukherjee said.

ANI

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