Reserve Bank of India Governor Raghuram Rajan said on Tuesday the next few quarters would be engaged in combating inflation.
India’s wholesale price inflation hit a five-month high in May, and prospects of weak summer monsoon rains and turmoil in Iraq have increased the risk of rising food and fuel prices.
In May, wholesale prices rose a faster-than-expected 6.01 per cent as a 19 per cent increase in potato prices during the month pushed up food inflation to 9.50 per cent from 8.64 per cent in April.
