New Delhi, April 6: Prime Minister Manmohan Singh on Sunday said that inflation is likely to moderate in the next couple of weeks, although he refused to set any timeframe for this.

“There is no timeframe, I can honestly say. But it is expected in a couple of weeks,” said the Prime Minister. He was talking to reporters after the swearing in ceremony of new ministers at Rashtrapati Bhavan.

Manmohan said that there were “difficulties” because world food prices, petrol and vegetable prices were going up. “But over so many years we have not allowed prices of items sold through PDS to go up. We have kept prices of kerosene and fertilisers stable. We are all concerned. The Cabinet Committee on Prices met and took certain decisions. Whatever more can be done would be done. I assure you of that,” the Prime Minister said, pointing out that during the previous NDA regime the international crude oil price was $38 per barrel which has increased several fold now.

Congress president Sonia Gandhi, who was also present at the ceremony, said the Government was seized of the matter relating to inflation and was taking steps to contain it. “We are also concerned,” she said.

About the UPA Government’s stability, Manmohan said, “We will complete the full term.” On nuclear deal, he said that the Government was in the process of discussions with the Left parties. “We are hopeful,” he added.