The Reserve Bank's mission impossible?

Today, three aspects about inflation in India are worrisome. It is unprecedentedly high. It may have been the key proximate cause of the recent rupee crisis. And taming it may prove difficult because the social consensus in favour of moderate inflation has eroded. Consider each. First, inflation has been historically high not in absolute terms but relative to the rest of the world, which is both striking and unrecognised. 

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