International Journal of Social Science & Economic Research
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1. Student, Amity School of Economics, Amity University, Uttar Pradesh, 201303, India
2. Professor, Amity School of Economics, Amity University, 201303, India

SAWHNEY, ANISHA, and KAVITA INDAPURKAR. "THE INFLATION DYNAMICS IN INDIA SINCE 2005." Int. j. of Social Science and Economic Research, vol. 4, no. 4, Apr. 2019, pp. 3112-3125, Accessed Apr. 2019.
SAWHNEY, A., & INDAPURKAR, K. (2019, April). THE INFLATION DYNAMICS IN INDIA SINCE 2005. Int. j. of Social Science and Economic Research, 4(4), 3112-3125. Retrieved from
SAWHNEY, ANISHA, and KAVITA INDAPURKAR. "THE INFLATION DYNAMICS IN INDIA SINCE 2005." Int. j. of Social Science and Economic Research 4, no. 4 (April 2019), 3112-3125. Accessed April, 2019.

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Inflation, that is termed as sustained rise in prices of goods and services over a period of time is the most talked about area of economics that influences the common life of the people most so much so that they have influenced the politics of the country as well. It is the monetary policy that aims at dealing with inflation that affects the economy as a whole, however, the fiscal policy of the country also has a considerable role to play when it comes to incidence of inflation. Inflation is a typical macroeconomic variable, the fine tuning of which is important to ensure adequate expansion of the economy that contributes to economic growth and employment. Economic growth raises employment thus increasing the demand for goods and services, fuelling inflation (demand pull) on one hand but at the same time a higher economic activity in the economy leads to increase in the supply thus sufficing the risen demand. But since this comes with a lag, there is inflation is the economy. However, whatever explains the phenomenon, incidence of inflation, particularly, food inflation, further out affordability of the grasp of the poor in the country, thus pinching the poor the most. The present paper makes an attempt to understand the applicability of Phillips curve in Indian economy. It also aims to study the various inflation that exist in the economy, particularly food and fuel inflation and the factors that contribute towards the same. Further it analyses the impact of inflation on economic growth.