Inflation rate in the United States, a developed country, and India, a developing country, from 2010 to 2022.
What is Inflation?
Inflation is a key economic indicator that can have significant impacts on an economy and the financial well-being of individuals and businesses.
India vs USA
Inflation is a measure of the rate at which the general level of prices for goods and services keeps on rising and purchasing power falls. In this article, we have compared the inflation rate from 2010 to 2022 of United States, a developed country, with India, a developing country. We could find out that the inflation rate in United States has been relatively stable over the past 12 years, ranging from 0.1% to 7.7%, except for the last two years. In contrast, the inflation rate in India has been much more volatile, ranging from 3.4% to 10.5%.
We have categorized some of the factors that contributed to these differences, including the state of the economy and monetary policy, as well as other factors such as supply and demand imbalances and shifts in global commodity prices. We also noticed some common trends in both countries, including a decline in the inflation rate since 2010 and the impact of external shocks on the inflation rate. Based on this we have further forecasted the expected upcoming shifts in Inflation of both the countries using analytical tool Tableau for the next five years.
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