What's unique about the current inflation trend and why we needn't worry

The current spike is solely due to volatile prices of vegetables, while the core components of inflation are closer to the ground, suggesting this phase is transitory at best

These days, data or numbers affect us more than they previously did, probably due to a better awareness about their gravity. Last week, official data on inflation showed that in December, consumer prices rose the fastest in 66 months. Though consumers have had to deal with highly-priced vegetables for the past several weeks, the bogie of inflation — “prices will remain high, so spend less” — has come to the fore.

But is this bogie real, and does this high inflation of 7.35 per cent present a real risk to consumers? Will the inflation in prices remain high for long, or