Reducing food inflation will take time: Pranab | business | Hindustan Times
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Reducing food inflation will take time: Pranab

Conceding that double-digit food inflation is worrisome, union finance minister Pranab Mukherjee on Saturday said the monetary policies of the Reserve Bank of India (RBI) will take some time to have an impact.

business Updated: Sep 03, 2011 20:20 IST

Conceding that double-digit food inflation is worrisome, union finance minister Pranab Mukherjee on Saturday said the monetary policies of the Reserve Bank of India (RBI) will take some time to have an impact.

"The double-digit food inflation is a matter of concern. There is a seasonal factor, but apart from the seasonal factor, there are supply constraints in some critical agricultural products which we have to remove," Mukherjee told reporters in Kolkata.

Stating that so far as the demand side was concerned, the monetary policies adopted by the RBI will take some time to have their impact, he said: "It will take some time to have full impact on the demand management.

"In short and medium term, we are trying to improve the supply constraint so that the moderating influence of the inflation is felt in the coming weeks," he added.

Food inflation was recorded at 10.05% for the week ended Aug 20, as onion, fruits, vegetables and protein-based items turned more expensive.