Chidambaram hints at stronger steps to curb inflation

June 20th, 2008 - 6:48 pm ICT by ANI  

New Delhi , June 20(ANI): Finance Minister P Chidambaram today said that the Central Government would take more measures to control inflation.

Talking to reporters at the north block here, he hinted at taking stronger measures on demand and supply sides after the official data disclosed an inflation rate of 11.05 per cent for the week ended June 7.

He attributed the high inflation rate to the rise in administered prices of petroleum products,

Refusing to divulge what measures the Government or the Reserve Bank of India (RBI) intended to take; Chidambaram said he had cautioned the Cabinet that inflation would touch double-digit, when fuel prices were increased on June 4.

He said that petrol, diesel and LPG amounted to 94 per cent of the rise in inflation for the week ended June 7.

On June 4, Petrol, diesel and LPG prices were increased by Rs 5 a litre, Rs 3 a litre and Rs 50 per cylinder, respectively. (ANI)

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