mundaire wrote:If any of you want to know what would be today's equivalent of INR 350/- in 1923, there is a rough method you can use. Go to
http://www.westegg.com/inflation/ which allows you to calculate any given amount of money adjusted for inflation, according to the Consumer Price Index, from 1800 to 2007 - this is of course in US$.
As per this calculator something that cost US$ 1 in 1923 would cost you US$ 12.06 in 2007. So now we can use the multiple 12.06 to convert INR 350 into today's prices which gives us INR 4,221 or US$ 98.16 (assuming an exchange rate of INR 43 to the US$).
Needless to say this is hardly an accurate measure of inflation (in India), but since I could not locate a similar calculator based on the historical consumer price index in India - I used this as a rough indicator.
Cheers!
Abhijeet
I uses much more simple and near accurate price comparison between ages.....
Take a price for gold ( say during 1900)
Calculate how much gold you can buy for that Money ( for 300 Rs, back then )
Calculate value to buy same qty. of gold in present date....
results will get you almost near figure....
I don't have data of previous years (1990) price of gold....
But If one had that data, can easily calculate inflation or could get much more accurate figures
hope this helps..
regards
pritam patel
