Inflation may come down by 1% in 6-8 weeks

Comparing the prices of some essential items for the month of March with that of May, such as rice, wheat,edible oils, cement, iron ore and steel, Kumar projected a positive impact of the measures taken by the government in the coming weeks.

The price of cement is expected to fall on account of positive response of cement manufacturers to the government's demand to control prices.

 

"Government has impressed upon industry that in the intrest of all stakeholders, Indian industry needs to hold prices so as to remain competitive, for which it is advisable to shun windfall profits", added Kumar.

Inflation touched a 3 year high of 7.57 percent for the week ended April 19.