India Inflation in 1974

INR Inflation Calculator for the year 1974


Enter the INR amount for which you want to calculate inflation from the year 1974:

RESULT: ₹1 in 1974 is worth ₹33.71 today.

You might be interested in calculating the value of ₹1 for the year 1979. Or calculate the value of ₹1 for the year 1984

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₹1 in 1974 is worth ₹33.71 today.

The value of ₹1 from 1974 to 2022

₹1 in 1974 has the purchasing power of about ₹33.71 today, a ₹32.71 increase in 48 years. Between 1974 and today, the rupee experienced an average annual inflation rate of 7.6%, resulting in a cumulative price increase of 3270.88%.

According to the Bureau of Labor Statistics consumer price index, today's prices are several times higher than the average price since 1974.

In 1974, the inflation rate was 28.5987%. 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 1974 to 2022

Summary Value
Cumulative price change (from 1974 to today) 3270.88%
Average inflation rate (from 1974 to today) 7.6%
Converted amount ₹33.71
Price Difference ₹32.71
CPI in 1974 274.36
CPI in 2022 9248.3472
Inflation in 1974 28.5987%
Inflation in 2022 6.08%
₹1 in 1974 ₹33.71 in 2022

Buying power of ₹1 in 1974

If you had ₹1 in your hand in 1974, its adjusted value for inflation today would be ₹33.71. Put another way, you would need ₹33.71 to beat the rising inflation. When ₹1 becomes equivalent to ₹33.71 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 1974 rupees, it's evident how ₹1 loses its worth over 48 years.



Rupee inflation for ₹1 from 1974 to 2022

The below tabular column shows the effect of inflation on ₹1 in the year 1974 to the year 1974.

Year Rupee Value Inflation Rate
1974 1 28.5987%
1975 290.91 5.75%
1976 0.98 -7.63%
1977 1.06 8.31%
1978 1.08 2.52%
1979 1.15 6.28%
1980 1.28 11.35%
1981 1.45 13.11%
1982 1.57 7.89%
1983 1.75 11.87%
1984 1.9 8.32%
1985 2 5.56%
1986 2.18 8.73%
1987 2.37 8.80%
1988 2.59 9.38%
1989 2.78 7.07%
1990 3.02 8.97%
1991 3.44 13.87%
1992 3.85 11.79%
1993 4.09 6.33%
1994 4.51 10.25%
1995 4.97 10.22%
1996 5.42 8.9772%
1997 5.81 7.1643%
1998 6.58 13.2308%
1999 6.89 4.6698%
2000 7.16 4.0094%
2001 7.43 3.77%
2002 7.75 4.30%
2003 8.05 3.81%
2004 8.35 3.7673%
2005 8.7 4.2463%
2006 9.21 5.7965%
2007 9.8 6.3729%
2008 10.61 8.3493%
2009 11.77 -0.36%
2010 13.18 1.64%
2011 14.36 8.91%
2012 15.72 9.47%
2013 17.29 10.01%
2014 18.44 6.66%
2015 19.35 4.907%
2016 20.31 4.95%
2017 20.98 3.33%
2018 21.81 3.94%
2019 22.62 3.73%
2020 24.12 6.62%
2021 25.36 5.13%
2022 26.9 6.08%


Conversion of 1974 rupees to today's price

Based on the 3270.88% change in prices, the following 1974 amounts are shown in today's rupees:


Initial value Today value
₹1 rupee in 1974 ₹33.71 rupees today
₹5 rupees in 1974 ₹168.54 rupees today
₹10 rupees in 1974 ₹337.09 rupees today
₹50 rupees in 1974 ₹1685.44 rupees today
₹100 rupees in 1974 ₹3370.88 rupees today
₹500 rupees in 1974 ₹16854.4 rupees today
₹1,000 rupees in 1974 ₹33708.8 rupees today
₹5,000 rupees in 1974 ₹168544.02 rupees today
₹10,000 rupees in 1974 ₹337088.03 rupees today
₹50,000 rupees in 1974 ₹1685440.15 rupees today
₹100,000 rupees in 1974 ₹3370880.3 rupees today
₹500,000 rupees in 1974 ₹16854401.52 rupees today
₹1,000,000 rupees in 1974 ₹33708803.03 rupees today

How to calculate the inflated value of ₹1 in 1974

To calculate the change in value between 1974 and today, we use the following inflation rate formula:

CPI Today / CPI in 1974 x Rupee Value in 1974 = Current Rupee Value

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

9248.3472/ 274.36 x ₹1 = ₹33.71

To buy the same product that you could buy for ₹1 in 1974, you would need ₹33.71 in 2022.

To calculate the cumulative or total inflation rate in the past 48 years between 1974 and 2022, we use the following formula:

CPI in 2022 - CPI in 1974 / CPI in 1974 x 100 = Cumulative Inflation Rate

By inserting the values to this equation, we get:

( 9248.3472 - 274.36 / 274.36) x 100 = 3270.88%

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 48 years between 2022 and 1974. The average inflation rate was 7.6038935256202%.

Plugging in the values into the formula, we get:

1 (1+ % 7.6/ 100 ) ^ 48 = ₹33.71