Inflation should be down to seven percent: PM

NEW DELHI - Prime Minister Manmohan Singh Wednesday conceded that inflation has been a problem for India in recent weeks, but should come down to around seven percent by year-end.

“Inflation and food inflation in particular has been a problem,” Manmohan Singh said at an interaction with editors of the electronic media.

But by year-end, “inflation rate should come down to no more than seven percent,” he said.

He said the government wanted to ensure that the growth process is “not disturbed”. It is trying to deal with inflation at a time “when we don’t have all the instruments at our command”.

“We have to deal with inflation despite an adverse international environment,” he said.