Inflation would continue to hover around 7.5 percent for another two to three months but is expected to soften from mid-October, Chief Economic Adviser Kaushik Basu said.
“My expectation on inflation as per wholesale price index is, for another two-three months, it will be the way it is (now)around 7.5 percent,” Basu said.
Noting that India’s inflation record was “much, much better” against emerging economies, Basu said inflation should go down from September and as per expectations and calculations of the Finance Ministry, it will go below seven percent from September.
“So you have to live with this high inflation for another two-three months and it should begin to go down from September,” he said. “From the middle of October,for the first time, you should see softening of inflation going down below seven percent,” he said.