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I have gone through the Stellar inflation article. Have already set inflation destination using this.

I have installed Stellar Core and running a private Stellar network. It is mentioned in the documents that inflation money will be awarded twice in a week but I don't know how its going to be work in private network. Will it start allocating XLM automatically after the next week of setting up of private network according the destination address?

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It is mentioned in the documents that inflation money will be awarded twice in a week

The inflation is distributed once per week, not twice.

i don't know how its going to be work in private network.

To run the inflation mechanism you need to submit a transaction containing an Inflation operation. Inflation process is not triggered automatically, so you'll need some kind of cron job to submit a new transaction every week.

Will it start allocating XLM automatically after next week of setting up of private network according the destination address?

The allocation process is automatic, you only need to submit a transaction

to which account inflation money got transferred

If you have set up the inflation_dest correctly and the destination account has enough votes (at least .05% of total circulated lumens in your private network), then the account specified as the inflation_dest will receive the inflation payout. Make sure that the account exists.

You can also retrieve the information about all destinations that received inflation payouts from the inflation operation result (though it will require some digging through the XDR).

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