MUMBAI | India's finance ministry warned that retail inflation could accelerate as weak monsoon conditions and higher fuel prices threaten to raise costs for households, farms and businesses across the country.
Reuters reported that the warning comes as India faces the prospect of below-average monsoon rains. The monsoon is central to India's economy because it replenishes water supplies, supports crops and affects rural income in a country where a large share of farmland depends on rainfall.
Additional Reporting By: CGN News review of reporting from Reuters, Indian finance ministry materials and public weather and economic data.