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Distinguish Between Creeping Inflation and Running Inflation. - Economics

Distinguish between creeping inflation and running inflation.

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Solution

Creeping inflation is inflation where the price level increases at a very slow rate of 2 percent to 2.5 percent per annum.

Running inflation is inflation where the general price level increases a bit faster and the rate of growth of the price level is about 10% per annum.

Concept: Concept for Demand and Supply
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