Industry & Economy
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Economy
`Inflation dip cause for cheer'
New Delhi, Sept. 7
The Finance Minister, Mr P. Chidambaram, on Friday expressed cheer over the fall in wholesale price index-based inflation to 3.79 per cent even as he noted that the homemakers' concerns on prices of essential commodities need to be addressed. "It is a cause for happiness. It is a cause for concern," Mr Chidambaram said when asked to comment on the fall in WPI for the week ended August 25. For the second week in a row, annual WPI-based inflation was below 4 per cent. It was 3.94 per cent for the week ended August 18. Mr Chidambaram said that Stating that fall in inflation showed good macro management, and at the same time Mr Chidambaram however pointed out that international crude oil prices have been on the rise, standing were at $74 per barrel. "So the outlook is of caution," he saidadded. On essential commodities, Mr Chidambaram said that prices of essential commodities could come down only when supplies were augmented. "That (lower prices of essential commodities) can happen if the demand-supply mismatch is addressed. We have to address the supply side issues of pulses, food, oilseed, and vegetables. Ultimately, the homemakers' concerns about prices of essential commodities needs to be addressed," he said. - Our Bureau
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