India Inflation in 1973

INR Inflation Calculator for the year 1973


Enter the INR amount for which you want to calculate inflation from the year 1973:

RESULT: ₹1 in 1973 is worth ₹43.15 today.

You might be interested in calculating the value of ₹1 for the year 1978. Or calculate the value of ₹1 for the year 1983

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₹1 in 1973 is worth ₹43.15 today.

The value of ₹1 from 1973 to 2022

₹1 in 1973 has the purchasing power of about ₹43.15 today, a ₹42.15 increase in 49 years. Between 1973 and today, the rupee experienced an average annual inflation rate of 7.99%, resulting in a cumulative price increase of 4214.8%.

According to the Bureau of Labor Statistics consumer price index, today's prices are several times higher than the average price since 1973.

In 1973, the inflation rate was 16.9408%. Inflation is now 6.08% higher than it was last year. If this figure holds true, ₹1 today will be worth ₹7.08 next year in purchasing power.

Inflation from 1973 to 2022

Summary Value
Cumulative price change (from 1973 to today) 4214.8%
Average inflation rate (from 1973 to today) 7.99%
Converted amount ₹43.15
Price Difference ₹42.15
CPI in 1973 214.34
CPI in 2022 9248.3472
Inflation in 1973 16.9408%
Inflation in 2022 6.08%
₹1 in 1973 ₹43.15 in 2022

Buying power of ₹1 in 1973

If you had ₹1 in your hand in 1973, its adjusted value for inflation today would be ₹43.15. Put another way, you would need ₹43.15 to beat the rising inflation. When ₹1 becomes equivalent to ₹43.15 over time, the "real value" of a single Indian rupee decreases. In other words, a rupee will pay for fewer items at the store.

This effect explains how inflation gradually erodes the value of a rupee. By calculating the value in 1973 rupees, it's evident how ₹1 loses its worth over 49 years.



Rupee inflation for ₹1 from 1973 to 2022

The below tabular column shows the effect of inflation on ₹1 in the year 1973 to the year 1973.

Year Rupee Value Inflation Rate
1973 1 16.9408%
1974 274.36 28.60%
1975 290.91 5.75%
1976 1.26 -7.63%
1977 1.36 8.31%
1978 1.39 2.52%
1979 1.48 6.28%
1980 1.65 11.35%
1981 1.87 13.11%
1982 2.01 7.89%
1983 2.25 11.87%
1984 2.44 8.32%
1985 2.58 5.56%
1986 2.8 8.73%
1987 3.05 8.80%
1988 3.33 9.38%
1989 3.57 7.07%
1990 3.89 8.97%
1991 4.43 13.87%
1992 4.95 11.79%
1993 5.26 6.33%
1994 5.8 10.25%
1995 6.4 10.22%
1996 6.97 8.9772%
1997 7.47 7.1643%
1998 8.46 13.2308%
1999 8.86 4.6698%
2000 9.21 4.0094%
2001 9.56 3.77%
2002 9.97 4.30%
2003 10.35 3.81%
2004 10.74 3.7673%
2005 11.19 4.2463%
2006 11.84 5.7965%
2007 12.6 6.3729%
2008 13.65 8.3493%
2009 15.14 -0.36%
2010 16.95 1.64%
2011 18.46 8.91%
2012 20.21 9.47%
2013 22.24 10.01%
2014 23.72 6.66%
2015 24.88 4.907%
2016 26.11 4.95%
2017 26.98 3.33%
2018 28.04 3.94%
2019 29.09 3.73%
2020 31.02 6.62%
2021 32.61 5.13%
2022 34.59 6.08%


Conversion of 1973 rupees to today's price

Based on the 4214.8% change in prices, the following 1973 amounts are shown in today's rupees:


Initial value Today value
₹1 rupee in 1973 ₹43.15 rupees today
₹5 rupees in 1973 ₹215.74 rupees today
₹10 rupees in 1973 ₹431.48 rupees today
₹50 rupees in 1973 ₹2157.4 rupees today
₹100 rupees in 1973 ₹4314.8 rupees today
₹500 rupees in 1973 ₹21574.01 rupees today
₹1,000 rupees in 1973 ₹43148.02 rupees today
₹5,000 rupees in 1973 ₹215740.11 rupees today
₹10,000 rupees in 1973 ₹431480.23 rupees today
₹50,000 rupees in 1973 ₹2157401.14 rupees today
₹100,000 rupees in 1973 ₹4314802.28 rupees today
₹500,000 rupees in 1973 ₹21574011.38 rupees today
₹1,000,000 rupees in 1973 ₹43148022.77 rupees today

How to calculate the inflated value of ₹1 in 1973

To calculate the change in value between 1973 and today, we use the following inflation rate formula:

CPI Today / CPI in 1973 x Rupee Value in 1973 = Current Rupee Value

By plugging the values into the formula above, we get:

9248.3472/ 214.34 x ₹1 = ₹43.15

To buy the same product that you could buy for ₹1 in 1973, you would need ₹43.15 in 2022.

To calculate the cumulative or total inflation rate in the past 49 years between 1973 and 2022, we use the following formula:

CPI in 2022 - CPI in 1973 / CPI in 1973 x 100 = Cumulative Inflation Rate

By inserting the values to this equation, we get:

( 9248.3472 - 214.34 / 214.34) x 100 = 4214.8%

Alternate method to calculate today's value of money after inflation - Using compound interest formula

Given that money changes over time due to inflation, which acts as compound interest, we can use the following formula:

FV = PV (1+i/100)^n

where,

  • FV = Future value
  • PV = Present value
  • i: Average interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

The future value in this case represents the amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much ₹1 is worth today. We have 49 years between 2022 and 1973. The average inflation rate was 7.9857748650417%.

Plugging in the values into the formula, we get:

1 (1+ % 7.99/ 100 ) ^ 49 = ₹43.15