Price rise and inflation have become very common terms today. Every now and then, we keep hearing these terms, be it in the radio, news channels or in the newspaper headlines. But what do they actually mean? And why do they occur? Is it always right to criticise the government for price rise or inflation?
Inflation is the term used to denote the percentage increase of prices of different goods, commodities and services with respect to a relevant base year. It is also known as price rise in the general language of the people. Inflation is a serious cause of concern as it affects both the population and economy of a country. And India being a developing nation, inflation or price rise has a severe impact on it. This article highlights some factors that lead to price rise.
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