India has experienced persistently high inflation in recent years, despite a period of below-trend economic growth. As … a result, controlling inflation has become a key objective for policymakers. The two main indicators of inflation in … India are the wholesale price index (WPI) and the consumer price index (CPI). Although the WPI has traditionally been the …

This paper is concerned with inflation targeting as a potential monetary policy objective in a developing economy … short-run inflation targets. It is found that due to the particular cross-sectional properties of the relative … concerned with the choice of alternative indicators of inflation and their statistical properties. These alternative measures …

inflation-targeting regimes that deserves more attention is reformulating their targets explicitly in terms of core inflation …. Core inflation targeting has a better theoretical grounding from both welfare economics and business cycle perspectives …, holds practical advantages for inflation-targeting central banks, and has the promising feature of improving the frankness …