INFLATION in October alone was 8.7 percent, and for the first 10 months of 2005 the figure was 15.65 percent. Nobody plans for or likes inflation, unless they happen to be of unsound mind. It is like the eroding of assets, a reduction of real income. Inflation is not always avoidable, and at a certain level, it may be the necessary price to pay for an increase in economic activity, for example, or to avoid a reduction in job opportunities.

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