New Delhi, July 14: Attributing the double-digit inflation to the petro hike, Finance Minister Pranab Mukherjee today said that prices would moderate by the end of the kharif season, and inflation would come down to 5-6 per cent by the year-end.
“I do feel that the annual rate of inflation will be 5-6 per cent (by 2010-end),” Mukherjee told reporters on the sidelines of a function relating to the setting up of an investment fund between India and Oman.
Wholesale price-based inflation inched higher to 10.55 per cent in June, owing to the pass-through effect of the hike in prices of petroleum products announced on June 25.
“It is 10.55 per cent. It is hovering around double digits. After the kharif season is over, there will be a moderating impact which is already being felt,” he said.
–Agencies