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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
Stable URL: http://www.jstor.org/stable/20787504
Page Count: 7
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Coming to Terms with Inflation
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Abstract

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.

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