Inflation still a concern: Finance Ministry

Dear Comrades,

NEW DELHI: India's high inflation continues to be a concern and the government and the central bank will take appropriate steps to lower inflation to a comfortable level, the finance ministry said in a statement.

The statement also said the government intends to bring down headline inflation to 6-6.5 percent "in near term" from 9.44 percent in June.

The Reserve Bank of India ( RBI) is expected to raise rates for the 11th time since March 2010 at its monetary policy review next Tuesday to combat sticky inflation.


Reuters Jul 22, 2011, 01.37pm IST