India Raises Interest Rate In Effort To Rein In Inflation

The Reserve Bank of India raised the price of borrowing from 7.25% to 7.5% the 10th rise since March 2010. The bank has said fighting inflation is its top priority and that growth could be hit in the short term.  Rising consumer prices have become a hot political issue in India, Asia's third-largest economy. The price of food is becoming a major concern to most Indians.

http://www.bbc.co.uk/news/business-13788473