TYPES OF INFLATION BASED ON RATE

Based on the rate of increase in inflation, it can be broadly classified into four different types.

1. creeping Inflation- If inflation remains in between 0-3% (mainly it is above 0), it is termed as creeping inflation. It is a common characteristic of developed economies. Since the demand in developed economies remains low, the rate of inflation also remains low. It is
a good sign for the economy. It shows that the demand is not very high and even consumption is happening.

2.  Walking or Trotting Inflation- If inflation remains above 3% and up to 10% then it is termed as walking/trotting inflation. It is a common characteristic of developing economies.
It shows that the demand is high and some type of cost push and structural factors are also present. However, if a walking inflation is at the upper side then it is a cause of concern and it should be controlled now.

3. Runaway Inflation- When inflation remains above 10% and up to 30% then it is termed as runaway inflation. It shows that inflation is moving at a rapid pace and it is going completely beyond control. It is very bad for any economy.

4. Galloping/Hyper Inflation- When inflation goes completely beyond control and may move to any extent then it is termed as galloping/hyperinflation. It is a sign of failed economy and is extremely bad.

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