New Delhi, February 14: Encouraged by moderation in inflation in January, the Planning Commission today forecast continuation of the trend in the coming month due to decline in the cost of onion and other vegetables.
“I am absolutely clear that in February the inflation will come down further,” Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here.
The headline inflation or Wholesale Price Index (WPI) declined marginally to 8.23 per cent in January from 8.43 per cent in the previous month as per the date releases today.
Explaining the reason for spike in headline inflation in January, Ahluwalia explained, “In January, for three weeks basically prices of onions and vegetables were high.”
He said, “The prices of primary articles were high because of the impact of onions and vegetables. These things have very small weight but the shooting up of price of these products was quite excessive.
–Agencies