FIVE types of Inflation

1. Wage Inflation – A general increase in the cost of goods due to an increase in wages.

2. Commodity Inflation- increase in commodity price index which is the weighted average selected commodity that leads to inflation.

3. Fiscal Inflation- Government spends excessively that adversely affects the economy and causes inflation.

4. Monetary Inflation- Central banks print too much currency which devalues the money.

5. Foreign exchange- Local currency plunges causing the sharp rise in the price of the imported goods that leads to inflation.

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