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InflationInflation
Inflation refers to the persistent rise inInflation refers to the persistent rise ingeneral price level as measured againstgeneral price level as measured againsta standard level of purchasing powera standard level of purchasing power
Rate of inflation (year t )=price level price level(year t) (year t-1) 100price level ( year t-1)
 
Trends in inflation inTrends in inflation inrecent yearsrecent years
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