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NEW DELHI: The Prime Minister’s economic panel on Thursday voiced the need to control food inflation from the current 17 per cent level to check an upward spiral in manufacturing inflation.

“Food prices must be controlled, otherwise they have a tendency to lead to manufacturing inflation,” the Prime Minister’s Economic Advisory Council Chairman, Dr C. Rangarajan, said here.

He said this will require monetary action by the Reserve Bank, especially towards managing money supply.

“Inflation is a matter of concern, particularly food inflation. There is a concern of rising food prices,” Dr Rangarajan said.

Food inflation rose to 17.47 per cent in the third week of November against 15.58 per cent in the previous week.

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