5.73% was the inflation rate in 2018 as per CPI.
Inflation rate= (Level in new year−Level in previous year)/ Level in previous year*100
= (166- 157/166)*100
= 5.73%
The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or rise in a nation's cost of living. Pressures on supply or demand side of the economy, monetary policy, CPI , and consumer expectations can all contribute to inflation. According to economists, inflation is the rate of price growth over a specific time period.
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