The late arrival of monsoon in India and shrinking sowing areas for rice and pulses could lead to a hike in food prices, potentially keeping the Reserve Bank of India (RBI) on hold for longer than expected. Rice accounts for 4.4% of the consumer price index (CPI) basket, and tur dal has a 0.8% weight in retail inflation. A deficient monsoon could push food inflation up by 50-60 basis points, according to economists.