Who knew the usually serious Reserve Bank of India Governor D.Subbarao could be so funny!
Delivering a speech at the Sixth Annual Statistics Day Conference at the RBI , India’s top economist pointed out he could not figure out how his haircut costs changed leave alone the impact of inflation on the economy.
The hilarious comparison in his own words is as follows:
“I must admit that even at a personal level, I do not know how to interpret inflation. Twenty years ago when I had a thick mop of hair, I used to pay Rs 25 for a haircut. Ten years ago, after my hair started thinning, I was paying Rs 50 for a haircut. And now, when I have virtually no hair left, I am paying Rs 150 for a hair cut. I struggle to determine how much of that is inflation and how much is the premium I pay the barber for the privilege of cutting the governor’s non-existent hair”