India’s CPI Retail Inflation Jan 2026: Retail inflation quickens to 2.75% in January, MoSPI releases new series with 2024 as base year

First retail inflation in 2024 series recorded at 2.75%

Retail inflation based on the Consumer Price Index (CPI) with base year of 2024 was recorded at 2.75 per cent, the Statistics Ministry reported on Thursday.

First retail inflation in 2024 series recorded at 2.75%

Retail inflation based on the Consumer Price Index (CPI) with base year of 2024 was recorded at 2.75 per cent, the Statistics Ministry reported on Thursday.

Retail inflation quickens to 2.75% in January, MoSPI releases new series with 2024 as base year

India inflation likely to remain low in 2026, new CPI series on anvil

India inflation likely to remain low in 2026, new CPI series on anvil

India is preparing to rejig methodology for computing CPI and revamp monetary policy mandate for targeting retail inflation in 2026 after a year of benign price situation due to subdued food cost and GST reduction.

Inflation needs monitoring in FY27 as new CPI series kicks in: SBI Research

Inflation needs monitoring in FY27 as new CPI series kicks in: SBI Research

SBI Research emphasizes monitoring inflation in FY27 as a new CPI series launches, impacting RBI’s monetary policy decisions.

CPI base year revision may push overall inflation up by 20-30 bps: SBI report

CPI base year revision may push overall inflation up by 20-30 bps: SBI report

SBI report indicates CPI base year revision may raise overall inflation by 20-30 basis points, reflecting new consumption patterns.

RBI says current state of economy provides ground for optimism

RBI says current state of economy provides ground for optimism

RBI highlights India’s economic resilience, predicting it will remain the fastest-growing major economy despite global uncertainties.

New GDP series to have wider adoption of double deflation, says MoSPI Secretary Garg

Statistics Ministry will begin adoption of double deflation more widely in the new series of National Account data or GDP data from next month. In an interview to businessline, Dr Saurabh Garg, Secretary in the Ministry of Statistics and Programme Implementation (MoSPI), said that the new series will have newer sources in addition to an expanded use of the administrative data set. 

Double deflation is the technique used to estimate real value added of an industry. In this method, real value added is measured as the difference between real gross output and real intermediate inputs.

Read full interview here

Expect policy rates to be low for a longer period: RBI Guv

With expectations that underlying inflation will continue to remain benign and growth prospects appearing to be strong, the benchmark policy rates will likely remain at low level for a long period of time, Reserve Bank of India Governor Sanjay Malhotra told reporters at a post-monetary policy committee (MPC) meeting press conference on Friday.

Expect policy rates to be low for a longer period: RBI Guv

With expectations that underlying inflation will continue to remain benign and growth prospects appearing to be strong, the benchmark policy rates will likely remain at low level for a long period of time, Reserve Bank of India Governor Sanjay Malhotra told reporters at a post-monetary policy committee (MPC) meeting press conference on Friday

RBI likely at end of rate-cut cycle, to opt for long pause as inflation risks tilt up: BoB Report

The Reserve Bank of India (RBI) has likely come to the end of its rate-cutting cycle and is expected to opt for a long pause, as there appears to be limited room to lower interest rates further unless the new series of CPI and GDP throw up unforeseen surprises, according to a report by Bank of Baroda.

RBI likely at end of rate-cut cycle, to opt for long pause as inflation risks tilt up: BoB Report

RBI likely ends rate cuts, focusing on growth and stability, according to Bank of Baroda’s recent report.

CPI Inflation in 2025 (month-wise)

December: 1.33 (Provisional) 

November: 0.71 

October: 0.25 

September: 1.44 

August: 2.07 

July: 1.61 

June: 2.10 

May: 2.82 

April: 3.16 

March: 3.34 

February: 3.61 

January: 4.26

Hungary’s January inflation slows to 2.1% y/y, below forecast -stats

Hungarian headline inflation slowed to ‌an annual 2.1% in ⁠January from 3.3% in December, below analysts’ ‌expectations of 2.4%, ‌the Central ‌Statistics ⁠Office (KSH) ⁠said on Thursday. Core inflation slowed to 2.7% in ‌January from 3.8% in December, below analysts’ expectations ‌of 2.8% seen in a Reuters ⁠survey. Prices increased by 0.3% ‌from the previous month, the KSH said. 

Turkey cenbank keeps end-2026 inflation target at 16%, raises forecast to 15-21%

Turkey’s central ‌bank kept its end-2026 interim ⁠inflation target at 16% but ‌lifted its forecast ‌range to ‌15-21% ⁠from ⁠13-19% previously, Governor Fatih Karahan said on ‌Thursday. Presenting the central bank’s quarterly inflation ‌report in Istanbul, Karahan said the ⁠bank also left its ‌end-2027 interim target at 9% and the end-2028 ‌interim target at 8%. 

January’s retail inflation with new base year likely between 2-3%

January’s Retail Inflation: Likely between 2–3% with new base year

Government will make public retail inflation data with new base year of 2024 on Thursday. The headline inflation is expected to exceed 2% but below 3%.

More detailed inflation data

Free food items distributed under government welfare programmes will be excluded. The government also plans to publish more detailed CPI data, potentially down to the item level, incorporating inputs from states and sectors.

No more horse-carts in inflation calculation

The overhaul in the CPI means prices for antiquated items such as video cassette recorders, radios and horse-cart fares will make way for airfares, online subscriptions and e-commerce sales. The index will now include electricity prices, housing costs in rural areas and standardised norms for gold and silver jewellery.

‘New series, more effective monetary policy actions’

The new series will help the RBI to “make its monetary policy actions much more effective and transmission quicker,” said Amol Agrawal, who teaches economics at the National Institute of Securities Markets. “It minimises, if not eliminates policy errors that the central bank may have suffered occasionally from under the older series.” 

No repo rate cut likely for now!

Although inflation remains well below the Reserve Bank of India’s 4 per cent target, the new figures based on the new series which are expected to be slightly higher than previous months could prompt the central bank to hold off on any further rate cuts and push up bond yields further. 

Last week, Governor Sanjay Malhotra kept the benchmark interest rate unchanged and indicated a prolonged pause going forward. 

Revised CPI may give RBI reason to keep interest rates on hold

The weighting of volatile items such as food has been reduced to about 36.8 per cent from nearly half previously, and new spending categories like rentals for rural housing and online shopping, have been added. The base year has also been changed to 2024 from 2012.

The changes could lift the January inflation reading to about 2.77 per cent, according to the median estimate of 32 economists in a Bloomberg survey. 

January’s retail inflation with new base year likely between 2-3%

The government is set to release the retail inflation data for January with the new base year of 2024 on Thursday. The headline inflation is expected to exceed 2 per cent but stay below 3 per cent.

The December headline number, the last one in the 2012 base year series, was 1.33 per cent. This is expected to be revised upward in the back series data.