The term Inflation and hence its usage, is a fraud as it is a comparative[to the previous year's] and NOT an absolute figure.For example for the poor who spend only on food in India,the current Inflation can be said to be 50 to 100% as the price of essential Food items have gone up by about 80 to 100%,in the last TWO years!But the reported Figures by the relevant Institutions are at variance with the reality[abysmally low].
The following is recommended for India,for arriving at the Inflation figures:-
1.Consider the "value of the Rupee in real terms",for three types of her Citizens:-
i.The poor,who mainly spend on food items to survive.
Basis should on the price of staple and essential food items.
ii.The middle class and fixed-income group,who cannot save as they spend on food,mainly and education of children etc.
Basis:- Same as for the poor plus the cost of children's/dependents' education and other needs.
iii.The rich and the Oligarchs of the Industry,Banking,Finance etc.
Basis:-The relevant items.
To be continued....
The following is recommended for India,for arriving at the Inflation figures:-
1.Consider the "value of the Rupee in real terms",for three types of her Citizens:-
i.The poor,who mainly spend on food items to survive.
Basis should on the price of staple and essential food items.
ii.The middle class and fixed-income group,who cannot save as they spend on food,mainly and education of children etc.
Basis:- Same as for the poor plus the cost of children's/dependents' education and other needs.
iii.The rich and the Oligarchs of the Industry,Banking,Finance etc.
Basis:-The relevant items.
To be continued....
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