We study the inflation process in India, focusing on the periods before and after the adoption of flexible inflation …-forecast targeting (FIT) in India. Our analysis uses several approaches including standard Phillips curve estimation for headline and …

We analyze the dramatic decline in India's inflation over the last two years using an augmented Phillips Curve approach … lower oil prices in India's disinflation was relatively modest given the limited pass-through into domestic prices. Instead …, we find that inflation is a highly persistent process in India, reflecting very adaptive expectations and the backward …