Truflation Launches Independent Inflation Tracker for India

Truflation

06 Dec 2024 • 3 min read

Truflation, a global leader in real-time financial data, announces the launch of the India Inflation Tracker. This tool offers Indian consumers and businesses an independent, transparent, real-time view of inflation, providing an alternative to traditional metrics. Truflation’s suite of inflation dashboards complements its existing calculators that allow consumers and enterprises to view real-time economic data filtered by type, country, and market.

Trust in published inflation figures in India has eroded due to allegations of manipulation in the consumer price index (CPI). This has heightened the demand among Indians for reliable, real-time inflation data to make informed financial decisions. To address this need, Truflation has developed its India Inflation Index in collaboration with local agencies, ensuring both accuracy and transparency. The data, however, remains independently maintained and verified, preserving its integrity and objectivity.

Truflation's methodology offers a groundbreaking approach to inflation measurement, leveraging over 30 million data points for unparalleled depth, compared to the traditional 80,000. Its indexes are updated 30x times faster than conventional tools, with daily reporting that keeps users ahead of market trends by using decentralized oracles and blockchain technology. Truflation ensures accurate, real-time data across various sectors, including housing, setting a new standard for economic data reporting.

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Truflation's success with its US Inflation Index and UK Inflation Index has spurred community requests for expanded global coverage. The recent launch of the Argentina Index at the Argentine Tech Forum was met with enthusiasm, and discussions are underway with the Milei government to further expand Truflation’s footprint there. The US Inflation Index is particularly critical, as the US economy is widely regarded as the global reserve economy, influencing economic conditions worldwide. Meanwhile, the UK Inflation Index offers a granular perspective on one of the oldest commercial hubs, balancing its unique position between European integration and economic independence—making it a key economic barometer for the region.

Using blockchain-powered infrastructure and decentralized oracles, Truflation’s India Index tracks millions of price points on goods and services spanning essential household expenditure categories such as housing, food, transportation, and energy. This comprehensive dataset reflects the true cost of living for Indian households. Additionally, investors can leverage this data to hedge against inflation by diversifying their portfolios into inflation-linked assets, offering both actionable insights and strategic opportunities."India's economic dynamism and growing middle class make it an essential market for accurate, real-time inflation data. With Truflation's independent indices, we aim to empower Indian consumers and businesses to make better financial decisions." Says Stefan Rust, CEO of Truflation.

Truflation’s indexes are based on market price data collected from 80+ data providers, comprising 30+ million data points to deliver essential business intelligence around inflation and its underlying components. This real-time data provides transparent economic metrics and real-time inflation indices that will assist the government, policymakers, businesses, and citizens in navigating the complexities of an inflationary environment.Key Features:

30x Faster: Truflation updates inflation data daily, compared to traditional tools.
Extensive Data: Leveraging over 30 million data points from 80 + providers for a comprehensive view.
Transparent Algorithms: Open-source metrics deliver unbiased insights.
Real-World Focus: Measures the cost-of-living expenses, including housing, food, transportation, energy etc.

With India emerging as one of the world’s largest economies, the Truflation Index is well-positioned to provide crucial insights that will assist government, policymakers, businesses, and citizens in navigating the complexities of an inflationary environment.

Previously Truflation launched a Personal Inflation Calculator where Individuals can calculate their personal inflation by inputting monthly salaries and expenses, providing real-time insights into how inflation is affecting their purchasing power and financial stability. and the Index is slated for launch in November, marking another significant milestone in Truflation’s mission to bring independent, real-time economic data to emerging markets worldwide.

By providing transparent and independent data, Truflation aims to restore trust and provide reliable information for economic planning and decision-making. Its India dashboards deliver economic data that is accurate and that provides citizens with practical tools for money management and budgeting in one of the world’s most inflation-hit countries

To view the calculator, visit: https://truflation.com/calculator?country=IN

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