The rate of inflation is the rate of change of general price level which is measured as
[amp_mcq option1=”Rate of inflation (year x) = Price level (year x) – Price level (year x – 1) / Price level (year x – 1) × 100″ option2=”Rate of inflation (year x) = Price level (year x) – Price level (year x + 1) / Price level (year x + 1) × 100″ option3=”Rate of inflation (year x) = Price level (year x) + Price level (year x – 1) / Price level (year x – 1) × 100″ option4=”Rate of inflation (year x) = Price level (year x) + Price level (year x + 1) / Price level (year x + 1) × 100″ correct=”option1″]
This question was previously asked in
UPSC SO-Steno – 2018