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What is Average Inflation Rate in India Explained about?

Inflation is defined as the percentage change in the Wholesale Price Index (WPI) from one year to the next in India. It is calculated by comparing the WPI in the current month to the same month from the previous year. Inflation occurs due to an imbalance between the supply and demand of money, changes in production costs, or increased taxes. High inflation negatively impacts consumers by making basic goods and services less affordable and requiring higher incomes to maintain the same standard of living. Mod

Author

Shawn Sriram

Language

EN