Inflation India 2004
Average inflation: 3.8%
Current Inflation
Inflation is high at 3.8%, well above the ECB target.
Peak and Trough
The highest inflation was in September at 4.8%. The lowest inflation was in April at 2.2%.
- Highest month
- September: 4.8%
- Lowest month
- April: 2.2%
- Difference
- 2.6 percentage points
- Months with data
- 12 of 12
Historical Context
Current inflation is around the 5-year average of 3.9%. This approaches the lowest level since records began (3.8% in 2004).
- 5-year average
- 3.9%
- 10-year average
- 3.9%
- All-time high (2002)
- 4.3%
- All-time low (2004)
- 3.8%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (+0.0 percentage point).
- Change vs. previous year
- +0.0 percentage points
- Largest monthly swing
- April: -2.9 percentage points
ECB Target
Inflation is 1.8% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 4.3% | +0.9 |
| February | 4.1% | +0.2 |
| March | 3.5% | -0.6 |
| April | 2.2% | -2.9 |
| May | 2.8% | -1.9 |
| June | 3.0% | -1.4 |
| July | 3.2% | -1.0 |
| August | 4.6% | +1.5 |
| September | 4.8% | +1.9 |
| October | 4.6% | +1.3 |
| November | 4.2% | +1.1 |
| December | 3.8% | +0.1 |
| Average | 3.8% |
Data source
Data from OECD. Last updated: 20/12/2025.