Centre working with RBI to bring down inflation level: Pranab Mukherjee

NEW DELHI: Centre along with the Reserve Bank of India (RBI) would be taking up necessary initiatives to bring down inflation to a comfortable level, said Mr Pranab Mukherjee, Union Finance Minister. It is expected that the apex bank may plan another round of monetary tightening initiatives, which would make the borrowing expensive in turn.

This statement from Pranab Mukherjee came while reacting to the monthly inflation data, which was released yesterday.The figures released by the Ministry of Commerce and Industry, the headline inflation based on the wholesale price index surged to 9.44% during June as compared to 9.06% in the last month.

According to a statement from Pranab Mukherejee, “Inflation figures reported for the month of June continue to be matter of concern. We are monitoring the price situation closely.”

Inflation surged in June due to the rise in administered fuel prices, seasonal effects, also surge in mineral and manufactured prices.