Taming rising prices a priority for India, Finance Minister says
NEW DELHI, Aug 25 (Reuters) – India’s finance minister on Friday said taming inflation was a priority, and that hiking interest rates was not the only tool available. “Obsession to use interest rates as the only tool to deal with inflation and not manage the supply side factors will not give a complete solution,” Nirmala Sitharaman said. Annual retail inflation in July rose to its highest in 15 months as vegetable and cereals prices skyrocketed, beating all market expectations and putting pressure on the government to take action. The Asian country has taken a number of steps including increasing supplies