Specious claims on inflation

Addressing the media on the concluding day of the summit of the Group of Twenty countries at Cannes, Prime Minister Manmohan Singh presented what seems to be rapidly becoming the official line of the United Progressive Alliance (UPA) in explaining away persistent inflationary pressures. Inflation, Singh said, was a reflection of demand for food items such as fruits and vegetables exceeding supply and, therefore, “to some extent, at least, is a sign of growing prosperity of our country”.

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