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Chief economic adviser Krishnamurthy Subramanian says inflation spike is transient

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As rising food prices pushed the retail inflation in November to over three-year high of 5.54 percent, chief economic adviser Krishnamurthy Subramanian on Friday said the inflation spike is transient.

As rising food prices pushed the retail inflation in November to over three-year high of 5.54 percent, chief economic adviser Krishnamurthy Subramanian on Friday said the inflation spike is transient.
In an interview to CNBC-TV18's Sapna Das, CEA said the inflation is due to vegetables and in particular onions, "So, one has to separate out the core elements of inflation versus the non-core elements. So, I would not be worried about inflation."
On IIP, Subramanian said, “The data clearly reveals that the services sector is the one that has actually been doing well. The fact that there is some deceleration is something that we will take note of and as the finance minister clearly mentioned, we will take all steps that is necessary to take care of the manufacturing sector."