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.
Assam faces floods every year because of heavy rainfall and its flat terrain, especially around the Brahmaputra River. To minimize the impact, the government can use early warning systems to alert people early, build strong embankments and reservoirs, and plant more trees to prevent soil erosion andRead more
Assam faces floods every year because of heavy rainfall and its flat terrain, especially around the Brahmaputra River. To minimize the impact, the government can use early warning systems to alert people early, build strong embankments and reservoirs, and plant more trees to prevent soil erosion and help absorb water. Educating communities about what to do during floods and quickly helping those affected are also important. Managing rivers better and planning for climate change effects are crucial too. These steps can help reduce the damage and keep people safer during floods in Assam.
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