Inflation is in news all the time, mostly for wrong reasons with common man blaming it for all their hardships. It’s perceived to negate the economic development achieved but alongside it has to be noted that Inflation if stays in prescribed limits can actually be useful for the economy driving competition and giving incentive to producers to produce. But if exceeds limits as in hyperinflation it can be deadly leading to crashing of the economy. Thus it’s a double edged sword that needs to be controlled to be useful. Motivated by this controversial issue, this paper examined the relationship between inflation and growth, impact of inflation on economic growth and estimates the speed at which inflation beyond a threshold becomes harmful to growth. Another dimension that will be analyzed will be the steps that could be taken to control inflation.