An Introduction To Inflation
Post on 30,March 2012   8:15 PM
By - PolyEyes Staff
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Description and Measurement: In an economy increase in the level of prices is termed as inflation. It affects directly or indirectly to the all section of society. Its impact is major on the individual who is having fixed income.


Inflation rate is normally calculated on the basis of the movement of whole sale price index (WPI). It is used to monitor the dynamic movement of the prices and generally used by the Government, Banks, Industries and Business circles. The movement of WPI serves as vital determinant in the formulation of trade, fiscal and other important polices of government.


Types of Inflation


Demand Pull Inflation: In this case excessive amount of demand pulls up the price. In other words too much money chasing few goods.


Cost Push Inflation: In this wages and other costs rise and the producer successfully passes the higher cost to the end consumer in the shape of higher price.


Stagflation: In this case higher rates of inflation coexist with the high rate of unemployment.


Hyperinflation: In this situation money loses its importance as medium of exchange.


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