RBI chief says next few quarters will be engaged in combating inflation

Mumbai: 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 percent as a 19 percent increase in potato prices during the month pushed up food inflation to 9.50 percent from 8.64 percent in April.