FM confident about reigning in prices, inflation

Expressing confidence about checking soaring prices, Finance Minister P Chidambaram today said inflation would be controlled step by step following a series of measures announced by the Reserve Bank of India.

Admitting that inflation had not come down in the last six weeks, he said: "It is 6.1, 6.3..6.05..6.4 per cent etc... not a big rise in inflation nor a steep fall. It has remained above 6% on an average. I agree it is there."

Inflation surged to 6.46% during the week ended March 3 as against 6.10% in the preceding week.

Similar inflation rates were witnessed in 2000-01 continuously for 48 weeks, and for 22 weeks it even crossed 7%, Chidambaram told reporters at Sivaganga, about 60 km from here, after reviewing various on-going projects in the district.

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