Retail inflation at 2.75% in new CPI with 2024 as the base year
ECONOMY – INDICATORS
13 FEBRUARY 2026
New CPI Series (Base Year 2024)
- The Ministry of Statistics and Programme Implementation (MoSPI) has released a new Consumer Price Index (CPI) series with 2024 as the base year (earlier base: 2012).
- Retail inflation (January 2026): 2.75%
- Since this is the first release under the new base year, long-term comparison is not yet possible.
- The data was released in the presence of Chief Economic Adviser V. Anantha Nageswaran and MoSPI Secretary Saurabh Garg.
Why a New CPI Series?
Over the last decade:
- Consumption patterns have changed
- Digital purchases have increased
- Services share in expenditure has risen
The new CPI reflects data from the Household Consumption Expenditure Survey (HCES) 2023–24.
Changes in Basket Composition
- Now divided into 12 broad groups (earlier 6 groups) for better granularity.
Significance
- Reflects modern consumption patterns
- Includes digital/online purchases
- Less volatility due to lower food weight
- Better tool for RBI’s monetary policy decisions
- Aligns with international statistical practices
Major Weight Changes in CPI
| Category | Old Weight (%) | New Weight (%) |
| Food & Beverages | 45.86 | 36.75 |
| Housing | 10.07 | 17.67* |
| Clothing & Footwear | 6.53 | 2.38 |
| Health | — | 6.10 |
| Transport | — | 8.80 |
| Information & Communication | — | 3.61 |
| Education Services | — | 3.33 |
| Restaurants & Accommodation | — | 3.35 |
| Personal Care & Miscellaneous | — | 5.04 |
| Information & Communication | — | 3.61 |
| Recreation, Sports & Culture | — | 1.52 |
| Paan, Tobacco & Intoxicants | 2.38 | 2.99 |
*Housing in the new series includes water, electricity, gas and other fuels.
“—” indicates that in the old series these were part of broader categories (earlier CPI had only 6 broad groups).
| Category | Old Series | New Series |
| Total items | 299 | 358 |
| Goods | 259 | 308 |
| Services | 40 | 50 |
| Rural markets | 1,181 | 1,465 |
| Urban markets | 1,114 | 1,395 |
| Online marketplaces | Not included | 12 included |
