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What is inflation?

As per the Reserve Bank of India, inflation is defined as a sustained increase in the general level of prices for goods and services. It reflects on the declining purchasing power of money.

Further Reading:

Related Links
UPSC Mains General Studies Paper – 3 Strategy, Syllabus & Structure Important Economic Terms for UPSC
Indian Economy Notes for UPSC Civil Service Exam UPSC Economy MCQ for IAS Prelims
Economy Questions on UPSC Prelims Topic-wise GS 3 questions for UPSC Mains

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