India raises interest rates as food prices soar
India's central bank has raised interest rates to 5.75%, the second rise in a month.
The bank is trying to tame inflation, which has been running above 10% since February.
Last year's drought pushed up food prices. This year's monsoon is expected to be back to normal levels, which should help farmers and lower the cost of food.
Supriya Menon reports from Mumbai.
27 Jul 2010
- From the section Business