CPI Base Year Shift from 2012 to 2024: Key Changes
Why in the news
The Ministry of Statistics and Programme Implementation (MoSPI) is moving the CPI base from 2012 to 2024 so the index mirrors today’s household spending and uses better data collection.
About CPI
- Tracks price changes in goods and services households buy; India’s main inflation measure.
- Guides RBI monetary policy and underpins Dearness Allowance, wage and social security adjustments.
Why revise
- Since 2012: more urbanisation, bigger services sector, digital platforms and varied spending.
Features of the 2024 series
| Area | What changes |
|---|---|
| Basket | Based on Household Consumption Expenditure Survey 2023-24; more weight to rising items, more services |
| Method | Matches international standards, keeps India-specific features |
| Collection | Market surveys continue; online prices added; computer-assisted collection cuts errors |
| Administrative data | More use of rail fares, postal charges, fuel prices and PDS items |
Exam angle
- Agency: MoSPI; base year: 2012 to 2024.