Mukherjee expects Inflation in 6-7 pct range by March end
REUTERS – Finance Minister Pranab Mukherjee said on Tuesday that he expects headline inflation to be in a range of 6-7 percent by end of March 2012, slower than the 7.47 percent increase in December.
India’s headline inflation slowed in December to a two-year low as food price pressure eased dramatically, but the central bank is expected to leave interest rates on hold next week.
The country’s economic growth is slowing after a prolonged bout of monetary policy tightening that has seen 13 interest rate increases since March 2010, as well as sluggish investment and weak global conditions.
Mukherjee, who was speaking at a televised function, also said that the next few months of the fiscal year are expected to be difficult for the economy.
(Reporting by Arup Roychoudhury; Editing by Harish Nambiar)
Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/s3UNBhwTXU4/india-finmin-inflation-idINDEE80G0FE20120117
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