Good monsoon will help bring down inflation to the range of five to six percent by the year-end, Deputy Chairman of Planning Commission Montek Singh Ahluwalia has said.
“The current level of inflation is not acceptable. I hope the inflation will come down to an acceptable level by the end of this year,” Ahluwalia said.
Asked what level of inflation is acceptable, Ahluwalia said: “We at planning commission feel 5 to 6 percent inflation is quite acceptable.”
He said good monsoon would bring down food inflation substantially by the end of this year.
Annual food inflation surged to 11.47 percent for the week ended Aug 28 from 10.86 percent in the previous week. Food inflation has remained in the double digit during the most part of this year.