The biggest concern of a normal person is the rising inflation. This inflation breaks the system made by poor to middle class families. The government itself has admitted that more than 80 crore people are poor in this country of people earning an average of 12 and a half thousand rupees every month.
Inflation rate increased by 8 percent
In such a country, increasing the price of one rupee by one rupee also means a lot. Due to Corona, the life of common man has already been disturbed and this inflation has done the right thing from above. According to the inflation data released recently by the government, the inflation rate in the country has reached close to 8 percent. This is the highest inflation rate since 2014. Earlier in May 2014, the inflation rate was 8.33%.
What was the cost of goods a year ago
The increase in the price of a commodity is called inflation rate. For example, a year ago the cost of an item was Rs 100 and next year it is getting Rs 105. In this way, the annual inflation rate of that goods was 5 percent.
With the rise in inflation, the importance of money also decreases. Meaning that after increasing the inflation rate, if you have 105 rupees, then it will be considered equal to 100 rupees a year ago. To understand the inflation rate in a better way, it is necessary to know that what will be the value of the same which was 100 rupees in 2012, today.
According to the report of Aaj Tak, if you would have bought an item for Rs 100 in 2012, then today you will have to spend Rs 170.1 to buy it. Whereas till last year, you could get the same for Rs 157.8. In such a situation, the price of this same has increased by Rs 12.3 in 1 year.
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