This project aims to compare real-time inflation indices with the inflation index issued by the Reserve Bank of India (RBI) using data sourced from Amazon Big Basket. The price history of specific items was tracked periodically by monitoring their respective account information.
The results are presented in the form of an interactive dashboard created using PowerBI. To enhance the project further, an attempt was made to analyze the country's economy based on specific values of the Consumer Price Index (CPI) index.
Below are some attached ScreenShots to show the dashboard
The methodology involved web scraping from Amazon and Big Basket, followed by data cleaning using Selenium. The data was organized into a CSV format, and the dashboard was created using PowerBI.
Visualization techniques such as line charts, bar charts, column charts, and scatter plots were employed to represent the data effectively.
Using 2012 as the base year and conducting inflation calculations, a 5% fluctuation was observed from the initially released RBI inflation index. This fluctuation can be attributed to the consideration of multiple parameters that the RBI may not account for.
In 2019, a significant difference between the calculated and original indexes was noted. This variance was primarily influenced by government interventions and numerous policy changes implemented during that year.