Inflation a short-term challenge: Montek

July 2nd, 2008 - 6:18 pm ICT by IANS  

New Delhi, July 2 (IANS) Inflation is a short-term challenge, arising out of crude oil price increase, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here Wednesday. “It is properly handled and should not affect the medium-term average growth rate of 9 percent,” he said at a press meet here.

India’s annual rate of inflation hit a 13-year high of 11.42 percent for the week ended June 14.

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