July 5, 2010 2:39 PM

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Food inflation to come down to 5-6%: FM

The Finance Ministry today said food inflation, which fell steeply by almost four percentage points during the third week of July, will take some time to come down to an acceptable level of 5-6 per cent.Finance Secretary Ashok Chawla's statement came on a day when the Opposition NDA and Left Front staged protests against the hike in fuel prices.Chawla said he agrees with the RBI's estimate on overall inflation. RBI expects inflation to come down to 5.5 per cent by the end of this fiscal, against over 10 per cent in May.Meanwhile, food inflation declined by a whopping 3.98 percentage points to 12.92 per cent for the week ended June 19. However, food prices are still at an elevated level.

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