Rains, reservoirs and food prices
Monsoons don't impact food inflation directly, but through their association with reservoir levels
India’s summer is laden with suspense. Several matters are up in the air. Will oil prices continue their ascent? After the unpleasant surprise in April, have we entered a period of rising inflation? Will we get good rains that keep food prices in control? Or, taking a step back, do rains really matter for food prices?