Inflation rate

In order to calculate the inflation rate for any product or service, you will need the price of the goods or services for the two periods of time in question. You then use this formula to calculate the inflation rate:

Inflation Rate = ((T2 - T1) / T1) x 100

T1 = Price for the first time period (or the starting number)
T2 = Price for second time period (or the ending number)

Here's an example. Let's say that the price of a 32-inch flat screen television was Rs 20,000 last year but is Rs. 21,000 this year. What's the annual rate of inflation for 32-inch flat screen televisions?

Inflation Rate = ((T2 - T1) / T1) x 100       i.e 1000/20000 x 100    i.e. 5%

CPI

REFER: cpi-inflation-india-2017