New Delhi: Buoyed by a continuous decline in food inflation over the past five weeks, Chief Economic Advisor Kaushik Basu on Wednesday expressed hope it may fall below 3 percent in a month's time.
"I do expect the food inflation to come down below 3 percent within a month," he said at the Delhi Economics Conclave here.
Basu is the head of a high-level panel appointed by Prime Minister Manmohan Singh to suggest ways to bring down inflation.
Food inflation, which touched a high of 12.21 percent for the week ended October 22, declined to 6.6 percent in the week ended November 26.
The drop in food inflation, as per the latest available data, was mainly due to a fall in prices of kitchen staples like onions, potatoes and wheat.
First Published: Wednesday, December 14, 2011, 10:36