India able to contain inflationary expectations:
Washington, Apr 12 While expressing concern over rising global commodity prices, Finance Minister P Chidambaram today said India has been able to contain inflationary expectations even though headline inflation has gone above the tolerance level of five per cent.
Inflation is expected to remain high for the next three months and the Reserve Bank of India's next move on policy rates depends much on how the situation pans out in the coming three weeks, according to Prime Minister's economic advisory council chairman C Rangarajan.