labels: economy - general
Update: FM says measures on the anvil to contain rising prices news
19 January 2007

Finance minister P Chidambaram has said headline inflation, which crossed 6 per cent today, was "indeed a matter of concern" and the government would take steps required to contain rising prices.

He said that inflation was a monetary phenomenon influenced by supply side economics and therefore, the ministry of finance was in touch with both RBI and the ministry of agriculture and consumer affairs. "We will watch the situation carefully and take whatever steps required to be taken," the FM said.

The government has found that items of daily use for the common man such as pulses, tea, tomatoes, coconut and are causing concern, he said while reading out a statement on the sidelines of a CII function.

The government also noted a rise in few manufactured items like steel products and edible oil.

also see : Inflation rises to 6.12 per cent

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Update: FM says measures on the anvil to contain rising prices