Here is the inflation chart taken from RBI website and RBI is Projecting a baseline WPI for 2012 at 7%
At least from the past two years RBI has failed in containing the inflation and there inflation targeting is a failure as they didn't contain it.
Lets see if at least they can manage atleast 7% for this year coming from a very high base rate of last year
Revisiting this post in october 2012 and inflation crosses the upper band as projected by RBI. It looks like RBI utterly failed at controlling the inflation in 2012 also. Shame on them