India is experiencing high rate of economic growth in the last two decades but the growth has been coupled with high … rate of food price inflation. The growth has been very uneven across sectors with agriculture remaining very sluggish. The …

-error correction model (VECM) is used to determine the linkage between farm wage inflation and food inflation, and a pooled mean group … wages. In last 20 years (1998-99 to 2017-18), wages of India's farm labourers increased at an average annual rate of 9.3 per … inflation and wage growth, evidence was found of a food-wage spiral where changes in food prices and farm wages were estimated …

India and similar emerging economies at present. Design/methodology/approach – This paper uses analytical arguments from … rising food prices on GDP, on measures of inflation, and on welfare, in the model. Findings – Previously neglected evidence … indicates that stagflation (simultaneously rising unemployment and inflation) preceded the OPEC price hike. The model results …