By Truflation, a global leader in real-time financial data, is launching a new India Inflation Calculator.
This innovative tool will offer Indian consumers, businesses, and policymakers a real-time, transparent view of inflation—an independent alternative to traditional metrics.
The India Inflation Calculator, powered by blockchain technology and decentralized oracles, will track millions of price points across key categories such as housing, food, transportation, and energy, reflecting the true cost of living in the country.
A new perspective on inflation
As India continues to emerge as one of the world’s largest and fastest-growing economies, access to accurate, real-time inflation data has become increasingly important.
Truflation’s India Index aims to provide a transparent and real-time measure of inflation, helping Indian consumers and businesses make better financial decisions.
“India’s economic dynamism, paired with its growing middle class, makes it an essential market for accurate, real-time inflation data,” said Stefan Rust, CEO of Truflation.
“With Truflation’s independent indices, we aim to empower Indian consumers and businesses to make better financial decisions, free from the delays and inaccuracies of traditional inflation tracking methods.”
Personalized insights for individuals and businesses
One of the standout features of the India Inflation Calculator is its personalized functionality.
Users can input their monthly salaries and expenses to calculate their personal inflation rate.
This allows individuals to understand how inflation is affecting their purchasing power and financial stability in real-time.
This is a significant departure from traditional inflation metrics, which often do not reflect the true financial impact on individuals’ daily lives.
For businesses, particularly those dealing with essential goods and services, this tool provides a clear picture of inflation trends across different sectors, enabling better financial planning and risk management.
The real-time data is also expected to be a valuable asset for investors looking to diversify portfolios and hedge against inflation by investing in inflation-linked assets.
Blockchain-powered transparency
Truflation’s India Inflation Index leverages blockchain technology and decentralized oracles to ensure accuracy and transparency.
The index will track millions of price points from over 80 data providers, capturing real-time data on goods and services that affect Indian household expenditure.
The extensive data collected will cover essential categories such as housing, food, transportation, and energy, providing a detailed snapshot of the actual cost of living in India.
The use of blockchain ensures that the algorithms used to calculate inflation are transparent and open-source, giving users confidence in the independence and accuracy of the data.
Faster, more accurate inflation tracking
Traditional inflation metrics are often updated monthly, lagging behind the rapid pace of economic changes.
In contrast, Truflation updates its inflation data daily, making it 30 times faster than conventional tools.
This real-time tracking provides a more dynamic and responsive measure of inflation, enabling users to adjust their financial strategies quickly.
With over 20 million data points from a wide range of providers, the India Inflation Index offers a comprehensive and unbiased view of inflation trends.
The data collected is not only useful for individuals but also provides crucial insights for policymakers and government institutions trying to navigate inflationary pressures in a growing economy.
A timely tool for an evolving economy
As India’s economy continues to evolve, the need for accurate, transparent inflation data is more critical than ever.
The Truflation Index, which will be officially launched on November 9, 2024, is set to be a game-changer for how inflation is measured and understood in the country.
By providing real-time insights into the cost of living, Truflation aims to help Indian consumers, businesses, and policymakers navigate the complexities of inflation in a fast-changing economic landscape.
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