Food inflation spills over in India – RBI study
Central bank economists call for disinflationary monetary policy to tame phenomenon
Higher food prices in India are spilling over into other parts of the economy, economists from the country’s central bank have warned.
In the latest Reserve Bank of India (RBI) bulletin, published on August 19, Michael Debabrata Patra, Joice John and Asish Thomas George write that since 2020 adverse climate events have been more frequent. They say this has pushed up average annual food inflation to 6.3%, compared with 2.9% between 2016 and 2020.
Using the RBI’s quarterly projection model, the
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