Worst of food inflation over; prices to stabilise: PM

New Delhi, Feb 6 (PTI) Under attack over spiralling
prices, Indian Prime Minister Manmohan Singh Saturday said the
worst of food inflation is over and the situation will ease
soon.
"... the worst is over as far as food inflation is
concerned. I am confident that we will soon be able to
stabilise food prices," he said addressing the Chief
Ministers' conference on food prices here in national capital.
"Food prices have softened in recent weeks and I expect
this to continue," he told the Chief Ministers of different
Indian states, who voiced serious concern over the rising
prices.
In a stern warning to hoarders, the Prime Minister said
powers under the Essential Commodities Act would be used
against them to stop artificial scarcity.
Driven by rising prices of essential food items like
pulses and vegetables, food inflation touched a decade high of
nearly 20 per cent in December before moderating a little bit
in January.
The Prime Minister said that good crop prospects and
increasing linkages between the domestic and global food
prices would help in stabilising the food inflation.
Thanking union Food and Agriculture Minister Sharad
Pawar, who has been under attack both by the Opposition,
allies and a section of Indian political party Congress, for
convening the conference, Singh said, "We are all very
concerned about the distress that the sharp rise in food
prices has caused to the common man." MORE PTI