Inflation rate in India: Trends, Factors and its Impacts

Source- Business Upside India

All that constitutes inflation is a widespread increase in the cost of goods and services. It has generated discussion and worry both in India and elsewhere. Everyone is severely impacted by inflation, whether it be in housing, groceries, or health. India's inflation rate in 2023 has varied over the course of the year. A major issue for both individuals and corporations has been inflation. Let's investigate and evaluate several facets, patterns, underlying causes, and their effects.

Understanding the inflation rate in India

Inflation in the economy is defined as a general increase in the prices of goods and services over a specific time period. Your money gradually loses purchasing power due to inflation, meaning it can buy fewer items over time. India's Consumer Price Index, or CPI, tracks inflation. It monitors price fluctuations for household consumption of necessities products and services.

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