The prospective good monsoons this year has brought along with it a host of other enthusiastic hopes. A bumper harvest is expected owing to the heavy rains, and as a result the much troubling inflation is expected to decrease, along with the prices of various goods.

The double digit inflation is anticipated to come down to single digits by December, and the economic growth is expected to exceed 8.5 per cent in the current fiscal. This is good news, especially because it follows the global financial crisis which disturbed many last year.

Compared to March’s 11 per cent and May’s 10.16 per cent, the current inflation rate is a little above 10-per cent. This confirms the estimation that the inflation will much decrease by year end.

After the new prices are declared tomorrow the new price of goods will be known.  The cost of fuel like petrol, diesel, LPG, and kerosene, all have been hiked up by considerable amounts of money.

Deputy Chairman of the Finance Commission, Montek Singh Ahluwalia has however said that monetary policy will not restrain the growth at present.