New Delhi: Encouraged by the decline in rate of price rise during November, Finance Minister Pranab Mukherjee today said inflation is expected to decline to 6 per cent by March 2011.
“I am hoping it to be around 6 per cent by March,” Mukherjee told reporters here.
The finance minister said after quite some time food inflation has become “very moderate”, adding it has come down to single digits.
Mukherjee’s comment came after the latest government data released today showed inflation declining to 7.48 per cent in November, mainly on lowering of pressure on certain food items.
Inflation had stood at 8.58 per cent in October. It was 4.50 per cent in November 2009.
This is the fourth consecutive month when the overall inflation has been in the single digit.
It had remained over 10 per cent for six months till July.