Subir Gokarn has this nice write up on India’s inflation issues (somehow most of the recent posts have been on India inflation). He shows how inflation has moved from a supply-side constraints driven trend to demand-side pressure one .
And accordingly monetary policy has responded over the time period. He points to 4 issues that have “influenced the sequence and magnitude of the monetary actions”:
I had pointed to this wonderful resource PBS- a few days back.
I was reading this interview of John Kenneth Galbraith placed on PBS website. It has some excellent Q&A with the great economist
I wanted to write this post earlier but just could not because of lack of proper timing.
Before I come to the main topic, there is a need to give a brief background.
Till 17 October 2009, WPI Inflation was released weekly. It was released with a lag of fortnight. As inflation became highly volatile in 2008-09 period, it also led to volatility in markets especially bond markets. Every week the numbers were eagerly anticipated.
So from 17 October 2009, the govt (Economic Advisor to Commerce Ministry) decided it would publish the data on a monthly basis. Now WPI Inflation is divided into three broad sub-sectors:
https://www.intelligenteconomist.com/economics-blogs/
Mostly Economics 