Inflation is back on the economic agenda. The annual growth in wholesale price index (WPI) in the quarter ending September 2018 was 4.98%. This is the highest since September 2014, which was the first full quarter after the current government assumed office. To be sure, the Consumer Price Index (CPI) grew at 3.88% in this period, after having grown at more than 4% in the last three quarters. Both CPI and WPI have been rising The political context is important here. Inflation was rising at a fast pace — CPI…
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