This paper examines the relative role of structural and monetary factors in the variation of inflation in India over … significant role. The role of the output gap in inflation is found more prominent than the monetary factors like broad money … inflation where as the interest rate is identified as an anti-inflationary monetary instrument. In view of a comprehensive …

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

This paper examines the behavior of quarterly inflation in India since 1994, both headline inflation and core inflation … headline inflation feed into expected inflation and future core inflation. Several aspects of India’s inflation process are … as measured by the weighted median of price changes across industries. We explain core inflation with a Phillips curve in …