On Inflation by RBI Governor Dr. Subbarao: Loved this...

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19 July 2012, 10:45

Anand Wadadekar

Economist | Author | Career Advisor

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On Inflation by RBI Governor Dr. Subbarao: Loved this...

"I must admit that even at a personal level, I do not know how to interpret inflation. Twenty years ago, when I had a thick mop of hair, I used to pay `25 for a haircut. Ten years ago, after my hair started thinning, I was paying `50 for a haircut. And now, when I have virtually no hair left, I am paying `150 for a hair cut. I struggle to determine how much of that is inflation and how much is the premium I pay the barber for the privilege of cutting the Governor’s non-existent hair."

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