Inflation can be checked through: –
- Budgeting for a surplus
- Open market operation.
- Monetary policy by increasing bank rate, liquidity ratio and reduction of commercial banks lending power.
- Reduction of import and excise duties.
- Increase in income taxes
- Effective price control board
- Wage and salary control or freezing.
- Increase in output of essential goods and services
- Over-hauling of distribution system
- Increase in supply of commodities.