Inflation in India
Consumer price inflation in India: the monthly year-on-year rate from the World Bank's Global Economic Monitor, the annual rate from the World Development Indicators, and what it has meant for the real value of savings and investments.
What inflation did to money
| Over the last | Average inflation a year | Needed now to buy what ₹1 lakh bought then | Nifty 50 real | Gold real | Liquid fund real |
|---|---|---|---|---|---|
| 5 years | 4.7% | ₹126,098 | 4.8% | 17.9% | 1.3% |
| 10 years | 4.6% | ₹157,577 | 7.3% | 10.7% | 1.3% |
| 15 years | 5.5% | ₹224,268 | 5.1% | 6.3% | 1.4% |
| 20 years | 6.3% | ₹336,997 | 4.6% | n/a | 0.7% |
| 30 years | 6.0% | ₹585,046 | n/a | n/a | n/a |
Periods end at the latest CPI month, Jul 2026. Real return: annualised return of the series over the same months, after inflation. Index-fund and ETF NAVs (AMFI), after fund costs and before tax; CPI from the World Bank. “n/a” means the series did not exist then.
Inflation, year by year (December)
show table
| Year | CPI inflation |
|---|---|
| 2025 | 1.17% |
| 2024 | 5.21% |
| 2023 | 5.73% |
| 2022 | 5.71% |
| 2021 | 5.68% |
| 2020 | 4.55% |
| 2019 | 7.32% |
| 2018 | 2.07% |
| 2017 | 5.24% |
| 2016 | 3.46% |
| 2015 | 5.56% |
| 2014 | 4.31% |
| 2013 | 9.96% |
| 2012 | 10.45% |
| 2011 | 7.00% |
| 2010 | 8.34% |
| 2009 | 13.01% |
| 2008 | 9.70% |
| 2007 | 5.43% |
| 2006 | 6.85% |
| 2005 | 4.64% |
| 2004 | 3.90% |
| 2003 | 3.87% |
| 2002 | 4.22% |
| 2001 | 5.16% |
| 2000 | 3.48% |
| 1999 | 0.47% |
| 1998 | 15.32% |
| 1997 | 6.29% |
| 1996 | 10.41% |
Year-on-year change in the consumer price index in December of each year. World Bank Global Economic Monitor (CPTOTNSXN), MFIC calculation.
Inflation by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2020s | 5.24% | 2.40% | 6.70% | 6 |
| 2010s | 6.79% | 3.33% | 11.99% | 10 |
| 2000s | 5.53% | 3.77% | 10.88% | 10 |
| 1990s | 9.55% | 4.67% | 13.87% | 10 |
| 1980s | 9.21% | 5.56% | 13.11% | 10 |
| 1970s | 7.54% | −7.63% | 28.60% | 10 |
| 1960s | 5.94% | −0.58% | 13.36% | 10 |
World Bank, World Development Indicators (FP.CPI.TOTL.ZG). Data 31 Dec 1960 to 31 Dec 2025.
Questions
- What is the current inflation rate in India?
- Consumer price inflation was 4.44% year on year in July 2026 in the World Bank's monthly series, which runs about two months behind. For the official latest figure see MOSPI's monthly CPI release.
- What is a real return?
- The return after inflation. If an investment grows 8% in a year and prices rise 5%, the real return is about 2.9% (1.08 ÷ 1.05 − 1): what the money can buy grew by that much.
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