New CPI Series 2024 Base: January 2026 Inflation 2.75%
Why in the news
MoSPI moved retail inflation tracking to a 2024-based series; its first reading, for January 2026, is 2.75%.
Key facts
| Feature | Old | New |
|---|---|---|
| Base year | 2012 | 2024 |
| Items | 299 | 358 |
| Goods | 259 | 308 |
| Services | 40 | 50 |
| Rural markets | 1,181 | 1,465 |
| Urban markets | 1,114 | 1,395 |
- No comparison with the earlier series is possible yet.
- Weights draw on the Household Consumption Expenditure Survey 2023-24.
Background
- CPI gauges retail inflation. A base year is the reference, with index set at 100; CPI of 110 in 2026 means prices are 10% above 2024.
- Revision reason: consumption patterns and economic structure changed over a decade.
Exam angle
- Nodal body MoSPI; base 2012 to 2024.