India's food inflation accelerated for the second straight week on rising prices of onions and petrol, putting pressure on headline inflation and reinforcing expectations of more monetary action this year to tame inflationary expectations.
Food inflation accelerated to its higest level since December 25 on high prices of onions and petrol in the week. Onion and petrol prices were up more than 6.5% and 4.5% on the week.
This will have negative impact on markets in the short term.
Rajan Iyer
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