Govt to take steps to contain rising prices: FM
Finance Minister P Chidambaram on Friday said headline inflation, which crossed 6 per cent on Friday, was "indeed a matter of concern" and the government would take steps required to contain rising prices.
"Ultimately inflation is a monetary phenomenon and is influenced by supply side. Hence, the Ministry of Finance is in touch with both RBI and Ministry of Agriculture and Consumer Affairs. We will watch the situation carefully and take whatever steps required to be taken," he said.
The govenrment has found that items of daily use of the common man such as urad, tea, tomatos, coconut and arhar are causing concern, he said while reading out a statement on the sidelines of CII function.
The government also noted a rise in few manufactured items like steel products and edible oil.