We study power law inflation (PLI) with a monomial potential and find a novel
exact solution. It is well known that conventional PLI with exponential
potential is inconsistent with the Planck data. Unlike the standard PLI,
present model does not suffer from graceful exit problem and it agrees fairly
well with recent observations. We have calculated the spectral index and the
tensor-to-scalar ratio which are in very good agreement with recent
observational data and also comparable with other modified inflationary models.
A technique has been used which shows that the large cosmological constant
reduces with expansion of the Universe in case of the power law inflation. The
coupling of the inflaton with gravitation is the main point in this technique.
The basic assumption here is that the two metric tensors in the gravitational
and the inflaton parts correspond to different conformal frames which is in
contradiction with the conventional power law inflation where the inflaton
directly coupled with the background metric tensor. This fact has direct
application to different dark energy models and assisted quintessence theory