A method of measuring acceleration includes suspending an inertial body using a magnetic fluid; generating a magnetic field within the magnetic fluid; modulating the magnetic field to counteract a change in position of the inertial body relative to sources of the magnetic field due to acceleration; and calculating the acceleration based on the modulation. The calculating step derives the acceleration based on an amount of current through drive coils required for the modulation. The acceleration includes linear acceleration and/or angular acceleration. The drive coils include permanent magnets, electromagnets, or a combination of a permanent magnet and an electromagnet. Sensing coils can be used for detecting the displacement of the inertial body. Each sensing coil can be positioned substantially within a corresponding drive coil. The inertial body can be non-magnetic, weakly magnetic, or have a ferromagnetic coating.