Encouraged by the marginal decline in rate of price rise to 9.22 per cent in July, Finance Minister Pranab Mukherjee exuded confidence saying inflation would moderate further on the back of good monsoon.
He told reporters, “I am quite confident that good monsoon will ensure moderation of inflationary pressure.” Mukherjee termed decline in inflation of both food and non-food primary articles in July as “good news”.
The finance Minister said, “Inflationary pressure is in the system and we shall have to make efforts to have the inflationary pressure at an acceptable moderate level for which we are working in tandem with the Reserve Bank.”