Good Monsoon, RBI Policy May Ease Inflation, Says Pranab

Encouraged by the marginal decline in rate of price rise to 9.22 per cent in July, Finance Minister Pranab Mukherjee today said inflation pressure would ease further on back of good monsoon.

"I am quite confident that good monsoon will ensure moderation of inflationary pressure," he told reporters pointing out that the government and the Reserve Bank are working in tandem to contain prices.

"Inflationary pressure is in the system and we shall have to make effort to have the inflationary pressure at an acceptable moderate level for which we are working in tandem with the Reserve Bank," Mukherjee told reporters here.

His comments came after release of data which reported headline inflation for July at 9.22 per cent, down from 9.44 per cent in June.

From: http://ping.fm/sOCyZ