Inflation to moderate in 3-4 months, says Ahluwalia

August 25th, 2008 - 9:25 pm ICT by IANS  

New Delhi, Aug 25 (IANS) Planning Commission deputy chairman Montek Singh Ahluwalia, unperturbed by India’s 16-year high inflation of 12.63 percent for the week ended Aug 9, Monday said inflation will moderate in three to four months.“It is not important whether inflation touches the 13-percent mark but the fact that it will start moderating within three to four months,” Ahluwalia told IANS on the sidelines of a business meet.

“The actual rate of inflation is seven to eight percent. I have been saying that inflation we are currently witnessing is not going to stay for long. I reiterate that it is a short-term problem,” he said.

Ahluwalia’s optimism is in stark contrast to the finance ministry’s concern, which recently said inflation was a “matter of concern” and a “major disappointment”.

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