Prime Minister Dr. Manmohan Singh has recently said that inflation will come down significantly in the next two months. It's evident with the inflation figure released today.
Meanwhile, government sources has said that the prices of petrol and diesel will be reduced within a week hopefully before Diwali. The reduced rate will be between Rs 6 for Petrol and Rs 4 for diesel, sources said.
Crude oil price have significantly dropped from record high of $147 to $ 61.47.
The BJP's hopes to regain power on the ground of prise rise issue is fast dwindling.
However, there is anxiety and uneasiness felt in the opposition camp too. If price index drops significantly, they feel, they will lose the political issue of the price rise and inflation.
It's been seen as ``bolt from the blue'' as the prise hike issue seems to fizzle out from their hand and the ruling UPA government thinks to ride election campaign in lucid way.#
Inflation and price rise
Inflation dropped a little, petroleum prices may be reduced too
As Inflation sinks, BJP loses steam, UPA in upbeat mood
Abhijit Roy Chowdhury - 23-10-2008 10:17 GMT-0000
New Delhi: With inflation declining in every successive weeks in the recent past from a record high of 12.67 per cent in the month of September to 11.04 per cent for the week ended 0ct 11, a hope for the better is in the air for people in genral and for the ruling party in particular.