What is mean by inflation.In which do you think it is growing and why ?
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What is mean by inflation.In which do you think it is growing and why ?
Inflation is nothing but general increase of lives in the products whichever we buy, which leads to decrease in purchase power. We measure inflation with: Consumer Price Index(CPI):average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. ProdRead more
Inflation is nothing but general increase of lives in the products whichever we buy, which leads to decrease in purchase power.
We measure inflation with:
Consumer Price Index(CPI):average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Producer Price Index (PPI): Measures the average change over time in the selling prices received by domestic producers for their output.
Several Factors affecting Inflation are:
- Demand pull inflation: It occurs when the demand for that product increases i.e., lesser the goods the more it costs.
- Built-In Inflation: When workers demand higher wages and, in response, companies increase the prices of their products to cover higher wage costs.
- Global Factors: International events, such as geopolitical instability or changes in global supply chains, can impact inflation. For example, the COVID-19 pandemic disrupted supply chains worldwide, leading to increased prices for many goods and services.
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