Double digit food inflation matter of concern- Says Pranab
Finance Minister Pranab Mukherjee has said that food inflation is definitely a matter of concern for the country. He has expressed his concern over the rising prices of the commodities. Now the food inflation has touched double digits after a gap of two weeks.
As per the Finance Minister, the double digit inflation level is undoubtedly a threat to the common people as well as to the country’s economy as the prices of essential items have touched to their maximum level.
He has said this while he was addressing to the media at a meeting with chiefs of PSU banks. He has also said that, such hike is due to “base effect”. Food inflation has been recorded 11.4% last week of July.
However, market experts believe that, this double digit inflation will come down to normal after the monsoon.
With the advent of kharif (summer) crop the food inflation will go down to normal. Previous statistics suggests that the food inflation had surpassed 20% mark towards the end of the year 2009.