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Context: Over the last few days, the retail inflation in the US has risen to 6.2%, the highest year-on-year jump in 3 decades. These rising prices have cornered a lot of attention, both globally and in India.
What has caused the inflation surge in the US?
Reasons for Increase in Demand
Reasons for decrease in Supply
1). Decreased industrial production: due to widespread lockdowns and disruption caused by the pandemic. 2). The slow pace of supply chain recovery worsened the mismatch between demand and supply, thus triggering a sustained price rise.
What is happening in India?
Why is US inflation a matter of concern for India?
Inflation: It is the rate at which prices increase over a given period. Typically, in India, the inflation rate is calculated on a year-on-year basis.
In other words, if the inflation rate for a particular month is 10%, it means that the prices in that month were 10% more than the prices in the same month a year earlier.
By: Shubham Tiwari ProfileResourcesReport error
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