Mild inflation is characterized by an increase in prices for ..... per year. a) 1-3%+b) 5-10% c) 15-20%d) 30-50%

INFLATION

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Mild inflation is characterized by an increase in prices for ____ per year. a) 1-3%+b) 5-10% c) 15-20%d) 30-50%

A	1-3%
B	5-10%
C	15-20%
D	30-50%

Explanation:

Detailed explanation-1: -Creeping inflation also known as mild inflation is as the name suggests a very slow rise in prices of goods and services. If the prices increase by 3% or less annually, then such inflation is creeping inflation. Such inflation is not harmful to the economy.

Detailed explanation-2: -When the rise in prices is 3% or less, then it is known as creeping inflation.

Detailed explanation-3: -The annual inflation rate for the United States is 6.4% for the 12 months ended January 2023 after rising 6.5% previously, according to U.S. Labor Department data published Feb. 14. The next inflation update is scheduled for release on March 14 at 8:30 a.m. ET.

Detailed explanation-4: -2.1 Demand Pull Inflation. 2.2 Cost-Push Inflation. 2.3 Open Inflation. 2.4 Repressed Inflation. 2.5 Hyper-Inflation. 2.6 Creeping and Moderate Inflation. 2.7 True Inflation. 2.8 Semi-Inflation.

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ECONOMICS (CBSE/UGC NET)

ECONOMICS

INFLATION