Inflationary pressures to continue: Pranab Mukherjee

The country will continue to face inflationary pressures due to the high global commodity and oil prices, Finance Minister Pranab Mukherjee today said.

"We are told that there could be pressure on commodity prices because of shortage in production of certain essential food items," Mukherjee told reporters on the sidelines of the 63rd annual general body meeting of Indian Banks Association here.

"When there is uncertainty in the global markets, particularly on those products for which we have to depend through imports, naturally it would affect," he added.

He further said, "Inflationary pressures have no predictability or a certain direction. Like in 2008 when oil and commodity prices shot up and then declined drastically, commodity prices remain unpredictable today. It is too unpredictable, nobody can comment on how these will behave". (PTI)