What is Inflation and its measurement in India?

Inflation and its Measurement:

• Definition: Sustained rise in general price level of goods and services over a period of time, leading to decline in purchasing power.
• Primary Measurement: Measured in India via Consumer Price Index (CPI, Combined) released monthly by National Statistical Office (NSO).
• Secondary Index: Wholesale Price Index (WPI) tracks producer-level prices released by Office of Economic Adviser.