Types of inflation: Inflation is categorised by the rate at

Inflation is categorised by the rate at which prices increase. Based on rate, inflation can be classified as creeping inflation, walking inflation (Trotting Inflation), galloping inflation (Hopping or Running Inflation), or hyperinflation. Explore the main types of inflation including creeping, galloping, hyperinflation, stagflation, and deflation. Learn their impact on the economy with examples. Explaining with diagrams - different types of inflation including - demand-pull, cost-push, wage-inflation. Also, creeping, running and hyperinflation. Context (IE): India’s inflation rate in November 2024 came in at 5.5 per cent. What is Inflation? Inflation is the rise in the general level of prices of goods and services in an economy over a period of time. Headline Inflation: Inflation is due to all types of commodities in the economy. Core Inflation: Inflation excluding food and fuel items. Inflation target in India Under the RBI Act, the GoI, in consultation with the RBI, determines the inflation target in terms of the Consumer Price ...