Subbarao’s haircut costs spiral; dithers on blaming inflation or ‘premium’

Reserve Bank Governor Duvuuri Subbarao today cited his receding hairline and the high rates for his hair cut to make a point on inflation.

He said he used to pay Rs 25 for a haircut 20 years ago which went up to Rs 50 even as his hair thinned.

However,in recent times,though the hair growth has been almost nil,he is paying Rs 150 for a haircut.

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“Now when I have virtually no hair left,I pay Rs 150 for a haircut,” the career bureaucrat-turned-central banker said to a laughter from the audience comprising a top official from the European Central Bank’s statistical department,many academics from the field of statistics and economic analysts.

The Governor said : “I struggle to determine how much of that is inflation,how much is the premium I am paying to the barber for the privilege of cutting the Governor’s non-existing hair”.

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