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Inflation will not `fall in short term'

Special Correspondent

NEW DELHI: Inflation, now at 5.26 per cent, is unlikely to see a sharp downturn in the short-term and it is expected to moderate only in the medium-term, the Finance Ministry's Chief Economic Adviser Ashok Lahiri said here on Thursday.

"No sharp decline in inflation can be expected... In the medium-term, the target is to bring down inflation."

Explaining the reasons for the recent spurt in inflation and ways of dealing with primary commodities and high crude prices, he said: "The question is if uncertainties continue, what will happen. Prices are a function of what happens in the world market".

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