News on Economics Blog

 Inflation Rate Definition:  According to Prof. Rowan, inflation is the process of increasing prices continuously. Rowan formula for calculating percentage rate of  inflation= P(t)= {∆pP(t)/P(t-1)}×100 Where, ∆P(t)=P(t)-p(t-1) P= Price Level (t), (t-1)= Time periods  WPI( Holesale price Index).    Aplication of the formula: Ex:- Year.                    WPI.                                               {∆pP(t)/P(t-1)}×100           Inflation Rate 2002-03.             174.                                                               -----        ...