India, Brazil have competing views on inflation: One of them must be right

Thousands of miles from the corridors of the Federal Reserve and European Central Bank, a struggle between competing views on inflation is unfolding. Two emerging-market icons are watching prices jump and steering very different courses: Brazil is cracking down, while India prefers to wait and hope the phenomenon flames out on its own. 
 

Which of the two approaches proves most effective will shape the lessons a generation of officials take from the pandemic. Covid-19 has claimed  almost 4 million lives worldwide, with Brazil and India among the hardest hit. The deepest economic slump since the Great Depression is being followed