Money, prices and credit The high growth in GDP in recent years has been accompanied by some moderation of inflation to an average of 4.9 per cent during 2003-07. Historically, India has not seen very high inflation.
The headline inflation rate, in terms of the wholesale price index, has declined from an average of 8.2 per cent during the period 1980-81 to 1990-91 to 6.2 per cent during the post crisis period, i.e., 1992-93 to 2006-07, with a sharper moderation in the recent period.