The government today said inflation was still high at 11.07%, although it has been sliding for four weeks in a row, and hoped that prices would ease taking a cue from the dip in global crude and commodity rates.
"Headline inflation is still very high. But I am confident as these (global crude and commodities) prices moderate, headline inflation will come down," Finance Minister P Chidambaram told reporters here.
In course of time, this will help in moderating consumer price inflation as well, he added.
"As we have said, moderation in crude oil prices and commodities prices will have beneficial effect on headline inflation. That is what is happening now," he added.
Earlier in the day, Economic Affairs Secretary Ashok Chawla had said inflation is expected to fall to 9.5-10% cent by December end.
Declining for the fourth consecutive week, inflation was down to 11.07% for the week ended October 11 from 11.44% a week earlier.