The concept of inflation is often misunderstood by people. You would often hear this refrain from many persons that despite RBI claiming that inflation has come down in the recent past, the prices have not come down. So, what is the truth?
In conclusion, I want to stress that the Bank assesses the full set of information before each of its fixed announcement dates, and we will do so again before our 7 December announcement. Mr. Chairman, Paul and I now will be happy to answer your questions. BIS Review 71/2004  1