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Coming to Terms with Inflation
EPW RESEARCH FOUNDATION
Economic and Political Weekly
Vol. 45, No. 43 (OCTOBER 23-29, 2010), pp. 73-79
Published by: Economic and Political Weekly
Stable URL: http://www.jstor.org/stable/20787504
Page Count: 7
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Given the widespread public and government concern about inflation, now is an appropriate time to address some issues pertaining to its measurement, inflationary expectations, outcomes and the priorities for action. The central government must attempt to construct an internationally acceptable and comparable price index series, the goal of monetary policy on inflation should be made benchmarkable in definite terms, the weights in the available price indices need to be readjusted in the light of recent changes in consumption patterns and the existing surveys on expectations should be put to practical use for developing appropriate policy perspectives.
Economic and Political Weekly © 2010 Economic and Political Weekly