There has been so many ways that Economists have tried to use to predict inflation, however, most of them did not prove to be accurate. The invasion of Philips Curve has helped in evaluating and forecasting inflation. A Phillips curve is an equation that relates the unemployment rate, or some other measure of aggregate economic activity, to a measure of the inflation rate. Modern specifications of Phillips curve equations relate the current rate of unemployment to future changes in the rate of inflation. These specifications are based on the idea that there is a baseline rate of unemployment at which inflation tends to remain constant.