<h1>India's 2012 Inflation Spurs Government and RBI to Cut Import Duties, Adjust Monetary Policies, and Launch Supply Initiatives.</h1> In October 2012, inflation in India was measured at 7.45% by the Wholesale Price Index (WPI) and 9.75% by the Consumer Price Index (CPI). To address this, the government and the Reserve Bank of India implemented several measures. These included reducing import duties on essential goods, suspending futures trading on certain commodities, and imposing export bans. Additionally, the government maintained low prices for essential food grains and launched initiatives to improve supply and storage. The Reserve Bank also adjusted monetary policies, including reducing the cash reserve ratio and statutory liquidity ratio, to manage inflation and liquidity.