Pranab Mukherjee expects inflation to come down to 5-6 per cent by year end

New Delhi, July 14 (ANI): Finance Minister Pranab Mukherjee on Wednesday said the prices would moderate by the end of the kharif season, and inflation would come down to 5-6 per cent by 2010 end.

"I do feel that the annual rate of inflation will be 5-6 per cent (by 2010-end). The inflation is 10.55 per cent. It is hovering around double digits," said Mukherjee on the sidelines of a function relating to the setting up of an investment fund between India and Oman.

"After the kharif season is over, there will be a moderating impact which is already being felt. Inflation figures in June were expected to move up due to the impact of the petro price hike," he added.

Mukherjee had earlier on July 4 ruled out rollback of fuel prices.

Earlier on June 25, a ministerial panel headed by Mukherjee, had lifted the pricing controls on petroleum following which the price of petrol went up by Rs 3.50 a litre.

The Government hiked the prices of diesel by Rs.2 a litre, kerosene by Rs.3 a litre and cooking gas by Rs.35 per cylinder. (ANI)