Redefining inflation

.....The RBI Governor has spoken about inflation as a regressive tax that hits the poor. Nowhere is the impact felt more than in the case of food prices. He would do the economy a service if he administered a bold and healthy shock to the system and its expectations by saying that core inflation would be redefined to refer to only food and fuel prices. Of course, that does not mean that the rest of the prices will be ignored.

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