India, Sept. 16 -- In India, inflation had touched an all-time high of 34.7 per cent in October 1974 and a record low of -11.3 per cent in May 1976. Come 2020 and the after trending below the target of 4 per cent during the first half of 2019-20, headline inflation has spiked during the second half and reached a multi-year peak of 7.6 per cent in January 2020 (highest in 68 months).

RBI confirms inflation

Confirmation of this alarming inflation comes from none other than the Reserve Bank of India. The RBI in its Annual Report released on August 25, 2020 confirms that in India during December 2019-February 2020, headline inflation breached the upper tolerance band for inflation mandated for the monetary policy committee (MPC). The intra-...