Inflation & Its Types || Download PDF

Notes Based on Inflation and its Types Inflation

Inflation

● The general rise in the price level of goods and services.

● It is estimated as the percentage rate of change in price index over the reference time period.

● Currently in India, the inflation rate is measured with the help of Consumer Price Index Combined (Base year - 2012).

● Till April 2014, the inflation rate was measured with the help of WPI (Wholesale Price Index).

● Rate of inflation = (Current period price index - Reference period price index) / (Reference Period Price Index) × 100

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