Understand The Inflation rate from 2003 to 2023.

To understand the Inflation Rate First understand the What is Inflation rate?

The Inflation rate is a measure that indicates how much the prices of goods and services have increased over time. To calculate this, we use indicators like the Consumer Price Index (CPI). The CPI is published monthly by statistical agencies such as the Bureau of Labor Statistics.

When the inflation rate is positive, it means that prices are rising, and each unit of currency buys fewer goods and services than it did before. Conversely, when the inflation rate is negative (a phenomenon known as deflation), prices are decreasing, and each unit of currency can buy more goods and services.

Inflation is typically measured using various indices, such as the Consumer Price Index (CPI) or the Producer Price Index (PPI), which track the prices of a basket of goods and services commonly purchased by households or businesses. These indices provide a basis for comparing price levels over time and assessing changes in purchasing power.

To measure the inflation rate, you typically use a price index, which tracks the prices of a basket of goods and services over time. The most commonly used index is the Consumer Price Index (CPI). Here’s a step-by-step guide to measuring the inflation rate:

1. Choose a Price Index

Select an appropriate price index such as:

Consumer Price Index (CPI): Measures changes in the price level of a basket of consumer goods and services.
Producer Price Index (PPI): Measures changes in the selling prices received by domestic producers for their output.
Gross Domestic Product Deflator (GDP Deflator): Measures the change in prices of all new, domestically produced, final goods and services in an economy.

2. Gather Data

Obtain the index values for the relevant periods. For CPI, these values are published monthly by statistical agencies like the Bureau of Labor Statistics (BLS) in the U.S.

3. Calculate the Inflation Rate

Use the following formula to calculate the inflation rate over a period of time:

$$\text{Inflation Rate} = \left( \frac{\text{CPI}_{\text{current}} - \text{CPI}_{\text{previous}}}{\text{CPI}_{\text{previous}}} \right) \times 100$$

Here is the table showing the inflation rate in India from 2001 to 2023:

Year	Inflation Rate (%)
2001	3.78
2002	4.31
2003	3.81
2004	3.77
2005	4.25
2006	6.12
2007	6.37
2008	8.35
2009	10.88
2010	11.99
2011	8.86
2012	9.30
2013	10.92
2014	6.37
2015	4.91
2016	3.28
2017	3.94
2018	4.86
2019	3.44
2020	6.62
2021	5.54
2022	6.62
2023	5.72

The Above graph showing the inflation rate in India from 2001 to 2023. The data highlights fluctuations in the inflation rate over the years, with notable peaks around 2009-2011 and a generally high trend in the early 2010s. The inflation rate has shown variability but has somewhat stabilized in recent years.

To find the average inflation rate from 2003 to 2013, you can sum up the inflation rates for each year within that period and then divide by the number of years.

Let's calculate it:
$\text{Average Inflation Rate} = \frac{\text{Sum of Inflation Rates}}{\text{Number of Years}}$
For the years 2003 to 2013:
$Sum of Inflation Rates = 3.81 + 3.77 + 4.25 + 6.12 + 6.37 + 8.35 + 10.88 + 11.99 + 8.86 + 9.30 + 10.92$
$\text{Sum of Inflation Rates} = 94.82$
$Sum of Inflation Rates = 94.82$
$\text{Number of Years} = 2013 - 2003 + 1 = 11$
$Number of Years = 2013 - 2003 + 1 = 11$
Now, plug these values into the formula:
$\text{Average Inflation Rate} = \frac{94.82}{11}$ $\text{Average Inflation Rate} ≈ 8.62\%$

So, the average inflation rate from 2003 to 2013 in India is approximately 8.62%.

Let's next calculate the average inflation rate for the period from 2014 to 2023 using the same method:

For the years 2014 to 2023:
$Sum of Inflation Rates = 6.37 + 4.91 + 3.28 + 3.94 + 4.86 + 3.44 + 6.62 + 5.54 + 6.62 + 5.72$
$\text{Sum of Inflation Rates} = 51.22$
$Sum of Inflation Rates = 51.22$
$Number of Years = 2023 - 2014 + 1 = 10$
$\text{Number of Years} = 2023 - 2014 + 1 = 10$
Now, plug these values into the formula:
$\text{Average Inflation Rate} = \frac{51.22}{10}$
$Average Inflation Rate = 10 51.22$
$\text{Average Inflation Rate} ≈ 5.12\%$
$Average Inflation Rate \approx 5.12%$

So, the average inflation rate from 2014 to 2023 in India is approximately 5.12%.

In Bharat mojaroty people calcualte the inflated rate of by petrol, diesel, LPG, and CNG

To provide a detailed historical price list for petrol, diesel, LPG, and CNG in India from 2001 to 2023, I will present a summarized version based on available data. Please note that the prices can vary across different states and cities due to local taxes and other factors. The prices mentioned here are approximate averages for the country.

Average Prices in India (2001-2023)

Year(2001-23)	Petrol (INR/Liter)	Diesel (INR/Liter)	LPG (INR/14.2 Kg Cylinder)	CNG (INR/Kg)
2001	29.50	18.50	241.60	13.45
2002	30.48	19.21	244.80	14.00
2003	33.49	21.74	261.60	14.75
2004	35.71	24.17	281.60	16.25
2005	40.50	28.50	281.60	21.00
2006	42.85	30.48	294.75	22.00
2007	44.62	31.76	310.00	23.00
2008	45.62	32.87	310.00	24.00
2009	44.72	31.65	320.00	25.00
2010	51.50	37.00	345.35	30.00
2011	63.70	41.29	395.35	33.00
2012	68.46	45.13	410.50	35.00
2013	70.44	48.63	434.00	38.00
2014	66.65	53.06	450.00	40.00
2015	60.00	50.00	600.00	43.00
2016	63.09	50.51	584.50	45.00
2017	69.97	57.50	644.00	47.00
2018	76.00	68.00	707.50	50.00
2019	73.07	65.93	737.50	52.00
2020	75.00	68.00	644.00	47.00
2021	83.71	73.87	834.50	56.00
2022	94.67	86.67	1053.00	78.00
2023	96.72	89.62	1053.00	79.56

To calculate the inflation rate from 2003 to 2013 for each of the given commodities (Petrol, Diesel, LPG, CNG), you can follow these steps:

Find the inflation rate for each commodity separately from 2003 to 2013.
Average the inflation rates of all commodities to get the overall inflation rate for the period.

Here's the calculation for each commodity:

For Petrol: $\text{Inflation Rate for Petrol} = \left( \frac{\text{Petrol price in 2013} - \text{Petrol price in 2003}}{\text{Petrol price in 2003}} \right) \times 100$
For Diesel: $\text{Inflation Rate for Diesel} = \left( \frac{\text{Diesel price in 2013} - \text{Diesel price in 2003}}{\text{Diesel price in 2003}} \right) \times 100$
For LPG: $Inflation Rate for LPG = (\frac{LPG price in 2013 - LPG price in 2003}{LPG price in 2003}) \times 100$
For CNG: $Inflation Rate for CNG = (\frac{CNG price in 2013 - CNG price in 2003}{CNG price in 2003}) \times 100$

Then, average these inflation rates to get the overall inflation rate.

Let's calculate each one:

For Petrol: $\text{Inflation Rate for Petrol} = \left( \frac{70.44 - 33.49}{33.49} \right) \times 100 \approx 110.37\%$
For Diesel: $Inflation Rate for Diesel = (\frac{48.63 - 21.74}{21.74}) \times 100 \approx 123.80 %$
For LPG: $\text{Inflation Rate for LPG} = \left( \frac{434.00 - 261.60}{261.60} \right) \times 100 \approx 66.02\%$
For CNG: $\text{Inflation Rate for CNG} = \left( \frac{38.00 - 14.75}{14.75} \right) \times 100 \approx 157.63\%$

Finally, to find the average inflation rate:

$\text{Average Inflation Rate} = \frac{\text{Inflation Rate for Petrol} + \text{Inflation Rate for Diesel} + \text{Inflation Rate for LPG} + \text{Inflation Rate for CNG}}{4}$
$Average Inflation Rate = \frac{110.37 % + 123.80 % + 66.02 % + 157.63 %}{4} \approx 114.45 %$

So, the average inflation rate from 2003 to 2013 for these commodities is approximately 114.45%

To calculate the inflation rate from 2014 to 2023 for each of the given commodities (Petrol, Diesel, LPG, CNG), you can follow the same steps as before

Find the inflation rate for each commodity separately from 2014 to 2023.
Average the inflation rates of all commodities to get the overall inflation rate for the period.

Here's the calculation for each commodity:

For Petrol: $Inflation Rate for Petrol = (\frac{Petrol price in 2023 - Petrol price in 2014}{Petrol price in 2014}) \times 100$
For Diesel: $Inflation Rate for Diesel = (\frac{Diesel price in 2023 - Diesel price in 2014}{Diesel price in 2014}) \times 100$
For LPG: $\text{Inflation Rate for LPG} = \left( \frac{\text{LPG price in 2023} - \text{LPG price in 2014}}{\text{LPG price in 2014}} \right) \times 100$
For CNG: $\text{Inflation Rate for CNG} = \left( \frac{\text{CNG price in 2023} - \text{CNG price in 2014}}{\text{CNG price in 2014}} \right) \times 100$

Then, average these inflation rates to get the overall inflation rate.

Let's calculate each one:

For Petrol: $Inflation Rate for Petrol = (\frac{96.72 - 66.65}{66.65}) \times 100 \approx 45.17 %$
For Diesel: $\text{Inflation Rate for Diesel} = \left( \frac{89.62 - 53.06}{53.06} \right) \times 100 \approx 68.81\%$
For LPG: $\text{Inflation Rate for LPG} = \left( \frac{1053.00 - 450.00}{450.00} \right) \times 100 \approx 134.00\%$
For CNG: $Inflation Rate for CNG = (\frac{79.56 - 40.00}{40.00}) \times 100 \approx 98.90 %$

Finally, to find the average inflation rate: $\text{Average Inflation Rate} = \frac{\text{Inflation Rate for Petrol} + \text{Inflation Rate for Diesel} + \text{Inflation Rate for LPG} + \text{Inflation Rate for CNG}}{4}$

$Average Inflation Rate = \frac{45.17 % + 68.81 % + 134.00 % + 98.90 %}{4} \approx 86.22 %$

So, the average inflation rate from 2014 to 2023 for these commodities is approximately 86.22%

NOW, Final analysis of inflation according to 2003-2013 data: What would we expect in 2023

To calculate the average inflation rate for petrol, diesel, CNG, and LPG from 2003 to 2013, and then apply this average inflation rate to estimate the prices of these commodities in 2023, you can follow these steps:

Calculate the average inflation rate using the inflation rates of petrol, diesel, CNG, and LPG from 2003 to 2013.
Apply this average inflation rate to the prices of petrol, diesel, CNG, and LPG in 2013 to estimate their prices in 2023.

Let's perform the calculations:

Average inflation rate = $114.45 %$

Now, to calculate the prices of these commodities in 2023:

For Petrol: $\text{Price in 2023 (Petrol)} = 70.44 \times \left(1 + \frac{114.45}{100}\right)$ $= 151.09$
For Diesel: $Price in 2023 (Diesel) = 48.63 \times (1 + \frac{114.45}{100})$ $\approx 104.26$
For CNG: $\text{Price in 2023 (CNG)} = 38.00 \times \left(1 + \frac{114.45}{100}\right)$ $\approx 81.46$
For LPG: $\text{Price in 2023 (LPG)} = 434.00 \times \left(1 + \frac{114.45}{100}\right)$ $\approx 930.25$

So, the estimated prices of petrol, diesel, CNG, and LPG in 2023, based on the average inflation rate from 2003 to 2013, would be approximately

Petrol: ₹151.09 per liter
Diesel: ₹104.26 per liter
CNG: ₹81.46 per kg
LPG: ₹930.25 per 14.2 kg cylinder