Question
Distinguish between creeping inflation and running inflation.
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Answer
When prices rise at a mild rate like that of snail or creeper (around $2 \%$ per annum) it is known as creeping inflation.
When prices rise rapidly at a rate or speed of around 10 to 20 percent per annum, is called running inflation.
When prices rise rapidly at a rate or speed of around 10 to 20 percent per annum, is called running inflation.
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