As inflation reached more than a two-year high of 6.73 per cent during early February, Finance Minister P Chidambaram said on Thursday rising prices of pulses, milk and vegetables are affecting the common man and cannot be attributed to seasonal factors alone.
"What is worrisome is prices of pulses, milk and vegetables is not seasonal alone. This is more than seasonal, which is causing present disturbance in price situation. It is affecting the common citizen," Chidambaram told reporters in New Delhi.
Asked if the ministry would cut duties on petroleum products, he said, "that I cannot say as petroleum minister has already said that the burden (of price cut) will be shared by the oil companies and the government." He declined to make any direct comment on cut in duties.
Price cut in petrol and diesel would have moderating impact on inflation. "Earlier also, the United Progressive Alliance government had moderated inflation. When we came to power, inflation had reached over eight per cent, we moderated it then and we would moderate it now as well," he said.