A deep deficit monsoon could push up food inflation by 50-60 basis points. One basis point is one-hundredth of a percent. “It will have less than the 50 basis points (0.5 percentage points) impact on headline inflation that the RBI is talking about as the potential negative impact of adverse weather,” said Abhishek Upadhyay, chief economist, ICICI Securities PD. (Navneet Nandan).

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