Inflation to fall sharply in next few months

NEW DELHI |
Tue Nov 29, 2011 4:33pm IST

NEW DELHI (Reuters) – Inflation rate will fall sharply over the next few months and the country’s economy should hold up despite the global economic slowdown, Prime Minister Manmohan Singh said on Tuesday.

India’s headline inflation in October hovered above 9 percent for the 11th month despite a 20-month cycle of monetary tightening by the Reserve Bank of India.

“I am confident we will successfully face the global slowdown,” Singh told a Congress party meeting. “I expect inflation will sharply decline in the next few months due to government measures.”

(Reporting by Manoj Kumar; editing by Malini Menon)

Article source: http://feeds.reuters.com/~r/reuters/INtopNews/~3/oHvGeOQZ-ec/idINIndia-60782920111129

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