...To be sure, onion inflation (not for the first time) has hit the roof, printing at 200%-plus in August, and 300%-plus in September. However, we need to be aware of at least two phenomena. First, onions have a weight of 0.17% (yes!) in the index, so even disproportionally large swings have a relatively limited impact on headline WPI. Second, there are all kinds of base effects at play, so the right measure is to.....
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