Finance Minister Pranab Mukherjee today said that retail price inflation would come down rapidly in the coming months as the price of the food items is now declining. Addressing a meeting of industry chamber CII ,he said,the government has taken a host of initiatives to deal with rising prices. Mr Mukherjee said,food inflation, based on wholesale prices, had scaled 20 per cent in December, but has since declined to around 16 per cent now due to arrival of fresh crops in the market. As regards economic growth, Mr.Mukherjee expressed hope that the country would exceed the growth projected by the International Monetary Fund.He said,the economy was estimated to record a growth rate of 7.2 per cent during 2009-10 despite the impact of unfavourable monsoon on the farm sector.AIR correspondent reports, India's economic growth slipped from over nine per cent in the three years till 2007-08 to 6.7 per cent during 2008-09 due to the impact of the global financial crisis.The economy, as per the Planning Commission estimates is expected to record a growth rate of 8.5 per cent during the current fiscal.