A B S T R A C T: Inflation has been a concern for policy makers globally in the past few years, following the onset of COVID-19 and, subsequently, the war in Ukraine. India too has had high inflation during this period, but with a difference.
Inflation in India accelerated before the pandemic had set in and has remained elevated since, even as it has
declined dramatically in the major OECD economies. This paper investigates the dynamics of inflation in India,
provides evidence on its distributional impact and points to what needs to be addressed by policy for it to be
controlled.