Worst of Food Inflation Over, PM Tells CMs

Facing criticism for skyrocketing prices of essential commodities including food, Prime Minister Manmohan Singh has said that the worst of food inflation is over and the situation will ease off shortly, said media reports.

“… the worst is over as far as food inflation is concerned. I am confident that we will soon be able to stabilise food prices,” he said addressing the Chief Ministers’ conference on food prices here.

“Food prices have softened in recent weeks and I expect this to continue,” he was quoted as saying while addressing the Chief Ministers Conference.

Chief ministers had voiced serious concern over the rising prices.

Warning hoarders, Singh said that powers would be used against them under the Essential Commodities Act for making them to stop artificial scarcity, said reports.

It should be noted food inflation soared up to record high of around 20 per cent in December due to rising prices of essential food items like pulses and vegetables. It moderated a bid in January.

Singh said that crop prospects and increasing linkages between the domestic and global food prices would help in stabilising the food inflation, said reports.

“We are all very concerned about the distress that the sharp rise in food prices has caused to the common man,” prime minister said to Food and Agriculture Minister Sharad Pawar, who has been under attack both by the Opposition, allies and a section of Congress, while thanking him for convening the conference.

(Based on internet reports)