Economy, asked by kulshan, 1 year ago

inflation meaning in economics

Answers

Answered by zesta

Inflation is the percentage change in the value of the Wholesale Price Index (WPI) on a year-on year basis. It effectively measures the change in the prices of a basket of goods and services in a year. In India, inflation is calculated by taking the WPI as base.

Answered by brainlystargirl

Heya...

Inflation refers to the % change in prices of the goods in response to economic situations when we compare that prices with respect to last year prices..

Thank you

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