India’s chief economic advisor Arvind Subramanian says India risks deflation. He sure knows his maths. But for the common man on the street the statement has only added to the confusion. Check the onion prices and all talk of inflation versus deflation goes up in tears. Sample the following: In a suburban housing society in Delhi onions are sold today anywhere in the range of 35 to 80 rupees per kg. Safal sells the cheapest while Six-To-ten, a nearby organized retail chain outlet sells at 80 rupees. Safal’s price advantage is valid only for early birds who consume (hoard) as if there is no tomorrow. Just outside the apartment onions are available anywhere between 40 and 80 rupees a kilogram. As economists decode the varying price mystery, it is time to prepare for an early morning dash to ‘Safal’ outlet. Hope I am lucky this time!
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