Rajya Sabha member and former Chairman of Prime Minister's Economic Panel C Rangarajan on Monday said he expects inflation to ease to 10 per cent by December.
"My own estimate is that probably by December, inflation rate may go down to 10 per cent," Rangarajan told reporters on the sidelines of a Ficci seminar on financial inclusion in .
He said inflation last year was moderate almost at the end of December, so base effect will be to heighten inflation in the current year.
The base effect relates to the affect on inflation because of its level in a year-ago period.
If inflation is low in a year-ago