10.2 -low and stable rate of inflation
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Last updated 11:34 PM on 2/28/24
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7 Terms
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Inflation
is defined as a sustained increase in the general prices levels
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deflation
is defined as a sustained decrease in the general price level
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disinflation
inflation occurs at a lower rate
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The consumer price index (CIP)
is a measure of cost of living for the typical household ,and compoare the values of a basket of goods and services in one year with the value of same basket in base year
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formula of CPI
Cost of the bundle of goods in the current period / Price of the bundle of goods in the base period x 100.
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inflation rate
(later CPI- Earlier CPI /Earlier CPI )X100
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rate of inflation with value
(Y2-Y1/Y1) *100
