Real-time financial data specialist, Truflation has launched the India Inflation Tracker which provides updated information regarding inflation in a clear and impartial manner. This tool offers live data on the Indian consumer price index (CPI), which citizens or businesses can use to plan their financial activities accordingly. Moreover, Truflation integrated with Levitate Labs, the Indian Web3 accelerator, as their implementation partner.Â
This collaboration ensures that correct and detailed inflation data is provided. The platform provides daily data updates using decentralized technology: they meet the need for accurate information regarding late consumer price volatility. The tracker incorporates millions of data points across essential expenditure categories, providing an in-depth view of the cost of living
Truflation Advances Inflation Measurement Through Blockchain
India Inflation Index is a Truflation product based on blockchain technology and decentralized oracles and collects information from more than 80 providers. The index analyzes over 30 million data points of household expenses, with conversations focusing on housing, food, transportation, and energy expenses. This enhanced method provides data updates 30 times faster than conventional measures, with daily consumption and policy-making rates.
The index was useful in utilizing decentralization systems to make the data more transparent and accurate. People can access open-source algorithms and perform objective analysis of economic indicators. Such real-time solutions help individuals and businesses prepare adequately and manage the worst inflation.
Expanding Truflation’s Global Footprint
Truflation’s India Inflation Tracker seeks to help government agencies, companies, and ordinary people deal with inflation’s impacts. The initiative follows the success of Truflation in the US and the UK Inflation Index, which has been crucial in formulating economic plans. Tools like inflation calculators and an interactive inflation dashboard help people evaluate their abilities regarding inflation and promote personal financial security.
Stefan Rust, CEO of Truflation, emphasized India’s importance as a dynamic economic hub requiring transparent inflation metrics. Similarly, through this partnership, Levitate Labs aims to support innovation in India’s Web3 ecosystem, fostering growth in decentralized financial solutions.
With the India Inflation Index, Truflation solidifies its commitment to enhancing financial data transparency in emerging markets. The tracker’s launch is expected to redefine inflation tracking in India, providing a reliable alternative to traditional methods.
