Pune: Reserve Bank of India Governor Raghuram Rajan said the central bank cannot control food inflation, but cautioned that the effect of higher prices on wage inflation should be kept in check.
India's consumer inflation edged up in February for the third straight month, mainly driven by food prices, underscoring the risk of a rebound in inflationary pressures from rising commodity prices.
The RBI has cut rates twice this year, by a total 50 basis points, to bolster the economy, but kept the rates on hold in its latest policy review this week waiting to assess inflationary pressures.
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