Inflation: How Chidu and MMS have got it wrong – again

The high consumer price index (CPI) number for November (11.24 percent) and the contraction in the index of industrial production (down 1.8 percent in October 2013) are further pointers that we are into serious stagflation – and the problems are largely self-created. There are no short-term fixes, and the UPA’s soothsayers have been so consistently wrong on economic forecasting that they really ought to stop making any further claims on the health of the economy.

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