Why prices don't fall, why prices won't fall

On Thursday India was told that food price inflation had gone up once again. India was also told that overall inflation has been over 9 per cent for nearly a year and is now threatening to cross over into double digit territory. Of course rising inflation is not exactly breaking news for India. What is interesting, however, is that the Prime Minister and the finance minister eschewed the temptation to predict a fall in inflation. After all how many times can you predict a fall and deliver a rise in inflation.

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