RBI predicts high food prices for next 1 year

Aam admi will not have any respite from high food prices, at least, for the next one year if one is to go by the RBI survey result released on Thursday. According to the Inflation Expectations Survey of Households: June, 2011 (Round 24), food inflation is expected to be 12.9 per cent by June 2012. There are strong reasons to believe the data, as food inflation has already jumped from 8.04 per cent and neared to double digit figure at 9.90 in the last week of July.

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