Why the death of inflation is vastly exaggerated

How good is the good news on inflation? Wholesale price inflation (WPI) for April 2013 is below 5 percent (4.9 percent), and consumer price inflation (CPI) below double-digits. Both numbers are raising hopes among finance ministry officials. They now believe that Reserve Bank of India (RBI) Governor D Subbarao should have fewer reasons to deny more aggressive rate cuts starting June, and thus help revive growth.

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