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Inflation Targeting: An Application of ARIMA Modelling Using Forecasting of CPI and WPI

Rahul Singh Gautam Jagjeevan Kanoujiya

Subject area: Management and Commerce  ·  Area of research: Finance

Abstract

Inflation management is always a problem area for any person or economist holding a senior position in the finance ministry of any economy. Among other methods, the target inflation method has become quite popular to manage inflation. In this method, forecasting inflation is essential. The forecast would be able to tell the direction of the future inflation so that any corrective action can be taken to keep the inflation within the target levels. The forecast of the inflation helps the policymakers take proactive decisions to control the inflation and the economy in the long-run.

Keywords

Inflation, Inflation Targeting, ARIMA, White Noise, Forecasting

References

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How to cite this paper

Rahul Singh Gautam, Jagjeevan Kanoujiya "Inflation Targeting: An Application of ARIMA Modelling Using Forecasting of CPI and WPI" Iconic Research And Engineering Journals Volume 5 Issue 11 2022 Page 195-198
Rahul Singh Gautam, Jagjeevan Kanoujiya "Inflation Targeting: An Application of ARIMA Modelling Using Forecasting of CPI and WPI" Iconic Research And Engineering Journals, vol. 5, no. 11, May. 2022
Rahul Singh Gautam, Jagjeevan Kanoujiya (2022). Inflation Targeting: An Application of ARIMA Modelling Using Forecasting of CPI and WPI. Iconic Research And Engineering Journals, 5(11).
Rahul Singh Gautam, Jagjeevan Kanoujiya "Inflation Targeting: An Application of ARIMA Modelling Using Forecasting of CPI and WPI" Iconic Research And Engineering Journals, vol. 5, no. 11, May. 2022.
@article{1703468,
      author = {Rahul Singh Gautam, Jagjeevan Kanoujiya},
      title = {Inflation Targeting: An Application of ARIMA Modelling Using Forecasting of CPI and WPI},
      journal = {Iconic Research And Engineering Journals},
      year = {2022},
      volume = {5},
      number = {11},
      pages = {195-198},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1703468.pdf},
      abstract = {Inflation management is always a problem area for any person or economist holding a senior position in the finance ministry of any economy. Among other methods, the target inflation method has become quite popular to manage inflation. In this method, forecasting inflation is essential. The forecast would be able to tell the direction of the future inflation so that any corrective action can be taken to keep the inflation within the target levels. The forecast of the inflation helps the policymakers take proactive decisions to control the inflation and the economy in the long-run.},
      keywords = {Inflation, Inflation Targeting, ARIMA, White Noise, Forecasting},
      month = {May},
  }