Inflation rate in India 2021

The statistic shows the inflation rate in India from 1984 to 2019, with projections up until 2021. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2019, the inflation rate in India was around 4.54 percent compared to the previous year. See figures on India's economic growth for additional information.

India's inflation rate and economy

Inflation is generally defined as the increase of prices of goods and services over a certain period of time, as opposed to deflation, which describes a decrease of these prices. Inflation is a significant economic indicator for a country. The inflation rate is the rate at which the general rise in the level of prices, goods and services in an economy occurs and how it affects the cost of living of those living in a particular country. It influences the interest rates paid on savings and mortgage rates but also has a bearing on levels of state pensions and benefits received. A 4 percent increase in the rate of inflation in 2011 for example would mean an individual would need to spend 4 percent more on the goods he was purchasing than he would have done in 2010.

India’s inflation rate has been on the rise over the last decade. However, it has been decreasing slightly since 2010. India’s economy, however, has been doing quite well, with its GDP increasing steadily for years, and its national debt decreasing. The budget balance in relation to GDP is not looking too good, with the state deficit amounting to more than 9 percent of GDP.

India: Inflation rate from 1984 to 2021

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Source

Release date

April 2020

Region

India

Survey time period

1984 to 2019

Supplementary notes

According to the source, due to the high level of uncertainty in current global economic conditions, the IMF projections for these indicators are provided only through 2021.

* Estimate.

Figures have been rounded to provide a better understanding of the statistic.

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Statistics on "India"

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