Inflation rate a matter of concern: Pranab

KOLKATA - Finance Minister Pranab Mukherjee Sunday expressed concern over the current rate of inflation but said the figure was expected to come down to 6.5 percent by the end of the next financial year.

“The inflation is an issue of concern. We expect that the steps we have taken will bear results. It is expected that by March next year the rate of inflation may come down to 6.5 percent,” Mukherjee told media persons here.

The Congress-led United progressive Alliance-2 government has faced staunch criticism for failing to control the rising prices, which have taken a heavy toll on the pockets of the common man.

“The price rise is indeed an issue of concern. But I won’t agree that we have failed to control food inflation. Last year the food inflation was 21 percent. It came down to 8.97 percent. Now it has gone up to 14 percent. But there is a tendency of increase,” said Mukherjee.

He said the wholesale price index had decreased to 8.68 percent in November, while all the three Consumer Price Indices are in single digits. “But yes, the inflation is a matter of concern and we have to be constantly watchful.”