Argentina:
Inflation came in at 124.4% in August, up from July’s 113.4%. August’s figure represented the highest inflation rate since our...
Inflation in India
India witnessed moderately high inflation from 2013 to 2022, generally oscillating between 4% and 6%. The country's inflation dynamics were influenced by various factors, including domestic economic activities, monsoon patterns affecting agricultural output, and policy decisions. India's central bank, the Reserve Bank of India, implemented several measures to control inflation, including monetary policy adjustments.
Over the past decade until 2022, consumer price inflation in India averaged 5.5%, which was above the Asia-Pacific's regional average of 2.1%. The 2022 average figure was 6.7%. For more inflation information, visit our dedicated page.
India Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for India from 2014 to 2023.
Source: Macrobond.
India Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 4.8 | 6.2 | 5.5 | 6.7 | 5.4 |
| Inflation (CPI, ann. var. %, eop) | 5.8 | 5.5 | 7.0 | 5.7 | 4.9 |
| Inflation (WPI, ann. var. %, eop) | 0.4 | 7.9 | 14.6 | 1.4 | 0.3 |
| Inflation (WPI, ann. var. %, aop) | 1.7 | 1.3 | 13.0 | 9.4 | -0.7 |
Inflation increases in June
Inflation edged up to 5.1% in June, above May’s 4.8% and a four-month high. The print exceeded market expectations and was largely driven by a sharper rise in prices for food and beverages, which make up around 50% of the consumer price basket. The trend was unchanged, with annual average inflation coming in at May's 5.4% in June. Lastly, consumer prices rose 1.33% in June over the previous month, accelerating from the 0.54% rise recorded in May. June's figure marked the highest reading since July 2023.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indian inflation projections for the next ten years from a panel of 30 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Indian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indian inflation projections.
Want to get access to the full dataset of Indian inflation forecasts? Send an email to info@focus-economics.com.
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