Paper I · 6 Indian Economy & Planning · 6.2.3 Inflation and price indices

6.2.3.1 Inflation: meaning, measurement and types by rate

Inflation is a sustained rise in the general price level that lowers what each rupee can buy, measured as the yearly percentage change in a price index.

  • APPSC Paper I · Paper I
  • Advanced level
  • 5 min read
  • Full course

Key terms

  • inflation
  • price level
  • creeping
  • walking
  • running
  • galloping
  • hyperinflation
  • headline inflation
  • real interest rate
  • purchasing power

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

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