Inflation to ease to 7 by March: Montek

Stating that inflation was a serious problem and the government was aware of it,Ahluwalia said the high food inflation was a 8220;seasonal spike8221; and would come down.

8220;But I will not be able to tell you where the food inflation will go8221;,he said.

Ahluwalia said food inflation was high because of high prices of onion and vegetables. 8220;Once the new crop was available in the market,food inflation would come down.8221;

He said all the emerging markets in the world were experiencing price pressure and the situation 8220;is not unique to India8221;.

While supply of food-grains could be arranged through imports,this was not true for vegetables. 8220;Imports of vegetable is very expensive8221;,he said.