The speed of price adjustment is indicated by the Phillips curve. From a Keynesian viewpoint, the Phillips curve should slope down so that higher unemployment means lower inflation, and vice versa. You can read about the Inflation in Economy- Types of Inflation, Inflation Remedies [UPSC Notes] in the given link.
A Phillips curve shows the tradeoff between unemployment and inflation in an economy.
- Inflation Targeting: Methods, Drawbacks and Benefits
- Indian Economy Notes For UPSC Exam [Download PDFs]
Fiscal Policy in India – Objectives, Components, Fiscal Consolidation, FRBM Act, 2003