Abstract
Achieving stable economic growth is a prerequisite for achieving sustained economic development. Price fluctuations develop an unpredictable environment that is not favorable to development activity. When prices rise, consumers must pay more than they did in the past. Non-essential commodities like alcohol and other vices will likewise cost extra in addition to essential goods. In this essay, the true impact of inflation is discussed. The author believes that inflation is perceived differently by different socio-economic demographics, and seeks to establish an inflation measure parameter for each defined demographic. Main factors assessed will include food, housing, and transportation. Keywords: Consumer price Index, GDP deflator, monetary policy,Inflation.
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