Pranab says no need to panic on inflation

Finance minister Pranab Mukherjee said today there is no need for unnecessary panic on inflation. Food inflation in the year to Jan 1 stood at 16.91%, data today showed, easing marginally from 18.3% recorded in late December, which was the highest in more than a year.

Finance minister Pranab Mukherjee said on Thursday there is no need for unnecessary panic on inflation.

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Food inflation in the year to Jan 1 stood at 16.91%, data on Thursday showed, easing marginally from 18.3% recorded in late December, which was the highest in more than a year.

High food inflation is a major headache for a government already battling multi-billion dollar corruption cases that have emboldened the opposition.