High inflation

An interesting blog by Ajay Shah inflation. http://ajayshahblog.blogspot.com/2011/10/reining-in-inflationary-dragon.html

He says that the supply side constraints have been present earlier also and hence we should not critic supply side constraints alone. However, the scenario from 2004 is different from now as we have more people consuming better quality products. Also, there should be political will to keep these constraints checked. I doubt if some of our ministers have such a commitment.

As the central bankers across the globe target tradeables for lower prices, we should also experience lower prices. Only catch is that the global central bankers should be able to contain inflation for us to experience the same.
Macro data points that are given in this link could be useful

http://www.mayin.org/cycle.in/tracking.html