Food prices to ease in near term

NEW DELHI: India should see an easing of food prices in the near term, with food inflation in a "much more comfortable position" by the end of the fiscal year in March, the deputy head of the Planning Commission said on Friday.

"I expect to see a definite easing on food prices," Montek Singh Ahluwalia, an influential adviser, told reporters.

India's food inflation eased to 13.07 percent in end January on moderating prices of fruits and vegetables but annual headline inflation in January is still expected to remain high.