Steps to combat inflation to be announced shortly, says Pranab

New Delhi, Jan 13 (PTI) Finance Minister Pranab Mukherjeehas said that the government will announce more steps tocontain inflation later in the day.

"Last evening, it (steps to check inflation) wasfinalised. I think it will be issued today", he said answeringquestions on yesterday''s meeting to check rising food prices.

"We have analysed the situation. We have indicated whatfurther steps we are going to take. We have also indicatedthat there should not be any unnecessary panic", he said.

Food inflation for the week ending January 1 slipped to16.91 per cent from the year''s high of 18.32 per cent a yearago during the previous week.

When asked whether the government will be able to containsurging inflation, the Finance Minister said, "of course".

Mukherjee further said that within the food basket, theprices of items like vegetables including onion, fruits, milk,egg and meat are becoming dearer.

Following tuesday''s high-level meeting called by PrimeMinister Manmohan Singh on price rise, Mukherjee met PlanningCommission Deputy Chairman Montek Singh Ahluwalia, AgricultureMinister Sharad Pawar and Cabinet Secretary K M Chandrasekhar.

The meeting deliberated on the steps to contain pricerise, especially of the essential kitchen items like onion andother vegetables.