Lowest Inflation in 30 years

According to the news the inflation rate in India has come down to 0.13 % which is lowest in thirty years. As per economics Inflation means rise in general price level of goods and services in an economy over a period of time. A chief measure of general price-level inflation is the general inflation rate, which is the percentage change in a general price index (Consumer Price Index). When prices rise the functional currency buys fewer goods and services means decline in real value of money or loss of purchasing power of currency. One year ago inflation rate in India reached near 11% and now it has come down to 30 year low at 0.13%. Since 13 weeks inflation rate in India is below 1%.

Inflation may have reached its lowest, but still today the prices of of general items like vegetable, oils, pulses, spices are becoming more expensive and going out of reach of common man. Government should not only take measures to check inflation but also try to keep check on price rise of essential items as most of the population is living below poverty line. Today even middle class people are having problems due to price rise of essential items.

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