Inflation is the rate at which an economy's overall price level of goods and services increases over time.

Indices closed at their day’s low as Nifty plunged 0.70 per cent on the volatile weekly expiry day. Sensex ended below the 60,000 level, tumbling 412 points

The gradual increase in the cost of goods and services is known as inflation. A nation's economy is in danger when inflationary forces are present, but deflation, also known as negative inflation is a much more dangerous problem. 

Indices traded lower throughout the day and Nifty plunged below 16,200. It closed lower by 1.68 per cent while Sensex tanked about 1,016 points.