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There are a number of different measures of inflation such as the CPI, the RPI and the PPI. The most widely used of these is the CPI but even this is, at best, a crude estimate of changes in the general price level. Different regions and socio-economic groups will have different rates of inflation and to target one specific estimate may create difficulties for some groups and for the economy as a whole.
Nevertheless, if the authorities were to totally ignore inflationary pressures in the economy then a state of hyper-inflation could easily develop and this could wreak even greater havoc on the economy
queen babito answered the question on July 9, 2018 at 07:21
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