Food prices to fall to reasonable level by Sept

Bangalore: Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday said he expects the monsoon rains and good macro management of the sector to bring down high food prices to "reasonable levels" by September and October.

"Our current assessment is that food inflation at the moment is too high, but there is no domestic shortage. Cereals are in a very good shape… we have more than enough stock.

With good macro management and likely good monsoon, by September-October, we will finally be able to bring price level and inflation rate down to a reasonable level", he said.

Ahluwalia was speaking to reporters after the Regional Consultation of Planning Commission with Southern States on the Approach paper to the 12th Plan.