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Govt making efforts to keep prices in check

Govt said adequate measures are being taken to contain inflation in response to concerns shown by the Left.

india Updated: Jun 16, 2006 18:15 IST

A day after Left allies of the ruling UPA expressed concern at the rising prices of essential commodities, the government on Friday said adequate measures are being taken to contain inflation.

Inflation is engaging the attention of the government at high level, finance ministry sources said, adding that stock position of essential commodities is comfortable.

It is desirable to keep inflation at 5/5.5 per cent, adequate measures are being taken and will be taken if required, they said, adding that the government is keeping a close watch on prices.

Official data released on Friday showed that wholesale prices based inflation rate rose by 0.04 per cent to stand at 4.72 per cent during the week ended June 3.

The data did not factor in price hike in petrol and diesel, which would be taken into account in the figures to be released next week.

However, the Reserve Bank move to raise repo rate by 0.25 per cent have dampening effect on prices.

First Published: Jun 16, 2006 18:03 IST