Read the following passage and answer the item that follows. Your answer to this item should be based on the passage only.

When a general price index rises because a poor monsoon has cut the supply of vegetables and pulses, raising the policy interest rate does little to bring the index down in the short run. Higher rates work by cooling demand for credit and for goods bought on credit, and households do not borrow to buy onions. The rate rise still has effects, on housing loans and on business investment, but these fall on parts of the economy that were not the source of the price rise. Where food carries a large weight in the index, a central bank can therefore appear to be failing even when its instrument is working exactly as designed on the segment it can reach.

Consider the following statements:

1. Monetary policy is a weaker instrument against inflation that originates in supply shortages than against inflation driven by demand.

2. The weight of different items in a price index affects how much of that index monetary policy can influence.

Which of the statements given above is/are correct?