Inflation is a situation of continuously rising prices. We always need to worry about inflation. It increases the cost of various goods and services that we normally buy and consume- for example cereal, pulses, vegetable, fruits, medicine etc. Like wise inflation can increase cost of transport, electricity or even our school fees, stationary and so on.
Inflation severely hurts those families whose incomes are generally limited or fixed. Such families have to cut down their purchases and consumption.
Controlling inflation is a major task before the government and also the Reserve Bank of India. What do you think? Tell us in the comments below…