From 1969 until 2010, the average inflation rate in India was 7.99 percent reaching an historical high of 34.68 percent in September of 1974 and a record low of -11.31 percent in May of 1976. Inflation rate refers to a general rise in prices measured against a standard level of purchasing power. The most well known measures of Inflation are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the whole of the domestic economy.
If we look at the rate of inflation since year 1969 till date, on an average the rate of inflation has increased by almost at the rate of 7.99%. May be not many will believe that the inflation rate in India has peaked in the year Sep-1974 touching the market of 34%. Simultaneously the rate of inflation in India also bottomed to (-)11% in two years after 1974 in year 1976.