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Rising inflation would stabilise in next couple of days: Sheila Dikshit

New Delhi, Fri, 14 Jan 2011 ANI

New Delhi, Jan 14 (ANI): Delhi Chief Minister Sheila Dikshit on Friday asserting that the government is taking several steps to curb rising inflation, assured the citizens that the national capital would witness a decline in the price of essential commodities over the next couple of days.


Dikshit claimed that many steps have been undertaken to curb the prices of basic commodities.


"And we have done more imports. There have been better arrivals in the Mandi (wholesale market). We are also getting help from NAFED (National Agricultural Cooperative Marketing Federation, a government owned body). Eight or nine trucks of NAFED also arrived yesterday," said Dikshit.


"And when the supply is more then the prices, naturally come down. Traders have also withdrawn the strikes. And on our asking, they have voluntarily taken back their call for prolonged stir. And in next one to two days we would be able to see some results of all these measures that we have taken," she added.


Dikshit further said that the linking price rise to inefficiency of government is a wrong notion since it is related to the simple economics of demand and supply.


"I would not say it to be the government's inefficiency. Food items or anything that sell in the market are governed as per demand and supply. Earlier, there were rains in Nashik, some goods could not come from Gujarat or Rajasthan, and the route of the goods coming from Pakistan was diverted," said Dikshit.


"The food grains and other items that should have come earlier, failed to arrive due to these obstructions. But now, since January 13 and 14, the native produce of India would also flow in speedily. So I am very sure that in the coming two to three days there has already been an impact and things would improve more," she added.


Earlier today, Union Finance Minister Pranab Mukherjee stating that rising food and commodity prices are major challenges facing Central Government said that he would meet his state counterparts on January 19 to discuss ways to bringing down inflation.


Talking to reporters here, Mukherjee said: "On January 19 I am having a meeting with the state finance ministers in connection with ensuing budget...I will also raise this inflation issue in the meeting. This is a continuing battle."


"Food inflation at this level is not acceptable and we are trying our best to control it along with the cooperation of state governments," he added.


Mukherjee further said inflation is an economic phenomenon, which may have monetary factors behind it.


"It could be caused by mismatch between demand and supply or international scenario such as crude prices," he added.


He further said he had also written letters to states asking them to remove supply bottlenecks in food products.


Meanwhile, inflation shot up to 8.43 per cent in December, from 7.48 per cent in the previous month, as prices of certain food and non-food items continued to show an upward trend.


As per the whole sale Price index data released here toady, prices of food, non-food articles and minerals shot up by 16.46 per cent on an annual basis.


However, prices of certain food items declined on a year-on-year. While wheat became cheaper by 5.09 per cent, pulses fell by 10.89 per cent and potatoes went down by 26.57 per cent.


During the month, fuel and power prices went up by 11.19 per cent, while manufactured goods became expensive by 4.46 per cent on an annual basis.


Within manufactured products, sugar prices eased by 9.91 per cent and leather and leather goods by 1.23 per cent on an annual basis.


The Government on Thursday announced several measures to contain price rise including de-hoarding operations and closely monitoring export and import of food items. (ANI)


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