The economy is expected to grow between 8 per cent and 8.5 per cent next year amidst concern of inflation,the Chairman of Economic Advisory Council to the Prime Minister,C Rangrajan,said here on Sunday. "In last three to four weeks some decline in food prices has been seen and with all indications that rabi output will be as good as last year's,I think it should act as dampener on food prices," he told reporters on the sidelines of the 45th IIM-A convocation. The overall inflation,however,may continue to remain high in next two months,Rangarajan said. Replying to a query on possible hike in key interest rates in the back of inflationary pressures,Rangarajan said,"RBI has done it already and they will watch the developments in next two to three weeks.
