Prices to come down by Jan-end: Montek

With the coming of the rabi winter crop,he added,8221;you will see a drop in cereal inflation compared to what it is now 8230; wait for the end of January8230; on the foodgrain front there will be ample available8221;.

Driven by rising prices of pulses,potato,onion and other vegetables,the food inflation soared to decade8217;s high of about 20 per cent in December before sliding marginally.

About the country8217;s economic growth prospects in the current fiscal,Ahluwalia said it 8220;would definitely be 7 per cent or a little more is quite likely8221;.

The Commission,which had projected a growth rate of 6.5 per cent for 2009-10,he said,would revise it upwards,especially in view of the robust 7.9 per cent GDP recorded in the second quarter July-September. Economy grew by 6.7 per cent in 2008-09.