'Inflation likely to come down to 7.78 percent this month'
Monday, 02 May 2011, 15:35 IST
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New Delhi: Inflation is expected come down to 7.78 percent this month on the back of a good monsoon and an increase in the area under rabi crops, the Institute of Economic Growth said in a report. In June, inflation is likely to further come down to 7.38 percent, it said. Headline inflation for March stood at 8.98 percent.Inflation in the country has been above 8 percent since February, 2010. It said that inflation in April may decline to 8.12 percent. "The area under rabi crops has gone up and the monsoon forecast for the 2011-12 agriculture year is positive. On balance, the inflation is likely to marginally go below the psychological 8 per cent mark in the next three months," it added. The recent cooling in food prices will also help in lowering inflation, it said.
Source: PTI
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