Though core inflation is finally below RBI’s comfort zone of 4%, food inflation continues to be very high at around 10% and threatens to go out of control once again—according to the World Bank’s latest quarterly food price report, drought in the US and dry spells in Argentina, South Africa and Australia could see global food prices go back to August 2012 record levels; a 1% rise in the global food price index causes a 0.3% hike in the domestic food price index.