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In addition, it is found that inflation is weakly exogenous.
CPI is calculated from the base year to another by finding the percent change in the price level from the base year to the comparison year.
This is calculated by subtracting 100 from the CPI.
On balance, the study finds overwhelming support in favour of a negative relationship between inflation and growth, especially in developed economies.
However, there is still much controversy about the specific threshold level of inflation that is appropriate for growth.
The index of measurement of the inflation is the Index of Prices to the Consumer (IPC).
This index measures the percentage increase in prices of a basic basket of products and services that a consumer acquires in the country. Deflation is a general decline in the prices of an economy, which is the opposite of inflation....
Motivated by these questions, this present paper first examines cointegration techniques and then, threshold estimations.
This paper surveys the existing literature on the relationship between inflation and economic growth in developed and developing countries, highlighting the theoretical and empirical indications.
The study finds that the impact of inflation on economic growth varies from country to country and over time.
The study also finds that the results from these studies depend on country‑specific characteristics, the data set used, and the methodology employed.