Two-grid methods with exact solution of the Galerkin coarse-grid system have been well studied by the multigrid community: an elegant identity has been established to characterize the convergence factor of exact two-grid methods. In practice, however, it is often too costly to solve the Galerkin coarse-grid system exactly, especially when its size is large. Instead, without essential loss of convergence speed, one may solve the coarse-grid system approximately. In this paper, we develop a new framework for analyzing the convergence of inexact two-grid methods: two-sided bounds for the energy norm of the error propagation matrix of inexact two-grid methods are presented. In the framework, a restricted smoother involved in the identity for exact two-grid convergence is used to measure how far the actual coarse-grid matrix deviates from the Galerkin one. As an application, we establish a new and unified convergence theory for multigrid methods.