India’s Rate Setters Become Cautious of Surging Food Prices
- The key would be to control food inflation itself, Bhide says
- Varma sees uneven rains posing demand and supply shocks
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The Reserve Bank of India must ensure there’s no spillover from the surge in food prices, two monetary policymakers said, as the odds for a rate hike begin to build with inflation at a 15-month high.