Letter to BS: Services inflation might be one of reasons for slowdown

This refers to “Walking a tightrope” (September 24). “Low inflation and low growth environment is the new normal”: This might be true for the developed countries, but in the Indian context, there is low growth but not low inflation. First, while calculating inflation, we are not considering fuel inflation that has increased substantially. Food inflation has also been up and down, albeit seasonally, but it affects the purchasing power of the common man. Second, till now we are calculating only goods inflation; we have to calculate services inflation as well. No one is calculating that. Recently, after GST implementation, services