Prices will moderate in few weeks: PM

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Posted: 2008-05-17 16:39:47+05:30 IST
Updated: May 17, 2008 at 1807 hrs IST

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Slowdown deepens, attack clouds prospects Economy to fall sharply from Q4: Nomura India to witness slowdown: Chidambaram India's Oct exports fall 12.1 per cent

Bagdogra, May 17:: As inflation continued its upward spiral, Prime Minister Manmohan Singh said he was expecting a moderation in the prices over the next few weeks.

"There is always a rise in prices between May and September. Even in the normal years prices do rise between May and September," Singh said before wrapping up a two-day visit to Bhutan.

"We have taken adequate measures. We have had excellent procurement of rice and wheat. We have taken effective steps. We are hopeful of moderation over the next few weeks," he said.

"If weather gods cooperate we would see moderation of inflation after September 15," the Prime Minister said.

Singh said that the government could have taken ‘harsh’ measures like raising interest rates but that would have affected the growth process.

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Prices will moderate in few weeks: PM

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