Finance Minister Pranab Mukherjee has said headline inflation in the country remains perilously close to double digits but is expected to moderate to 6-7 per cent by March if the present declining trend continues. He was speaking at a press conference in Bangalore on Sunday after meeting with the chief ministers of southern states and the CEOs of public sector banks based in the South. Mr. Mukherjee however highlighted that though overall inflation is high in the manufacturing sector, fuel and certain other commodities, food inflation has come down.Talking about the global slowdown, Mr. Mukherjee said, it is true that we are going through difficult times, not only in India, but also all over the world. He said, as per the latest assessment, there is no possibility of a recovery in the euro zone, comprising 28 countries of the European Union, till the third quarter of the next calendar year. Mr. Mukherjee said, as per another assessment, there has beenslow recovery in the US economy, but how long it willcontinue and how far it is, is yet to be seen.