Date:06/08/2004 URL: http://www.thehindubusinessline.com/2004/08/06/stories/2004080602710600.htm

Back 'Govt monitoring price situation'

Our Bureau

Mumbai , Aug. 5

THE Chief Economic Advisor to the Finance Ministry, Mr Ashok Lahiri, indicated that inflation rate has peaked at the current rate of 6.52 per cent.

"We are monitoring the price situation closely. The rains are welcome," said Mr Lahiri in Mumbai on Thursday.

Speaking to reporters, post the board meeting of Securities and Exchange Board of India, Mr Lahiri said oil prices are being monitored closely and the foreign exchange levels are "comfortable."

"Let's hope the worst of the inflation is behind us," he said.