🛡️ *TYPES OF INFLATION* ♟️Depending upon the range of increase, and its severity, inflation may be classified into three broad categories. 🛡️ *LOW INFLATION* ♟️Such inflation is slow and on predictable lines, which might be called small or gradual . ♟️Low inflation takes place in a longer period and the range of increase is usually in single digit. ♟️Such inflation has also been called as creeping inflation. 🛡️ *GALLOPING INFLATION* ♟️This is a very high inflation running in the range of double-digit or triple digit (i.e., 20 per cent, 100 per cent in a year) ♟️Other names to this inflation are hopping inflation, jumping inflation and running or runaway inflation. 🛡️ *HYPER INFLATION* ♟️This form of inflation is ‘large and accelerating’ which might have the annual rates in million or even trillion.