The Ministry of Statistics & Programme Implementation (MoSPI) on February 12, 2026, issued the notification regarding the First Press Release of Consumer Price Index on Base 2024=100.
The following has been stated namely: -
• This replaces the earlier 2012 base.
• The revision is based on the Household Consumption Expenditure Survey (HCES) 2023–24 and expands the item basket from 299 to 358 items, while adopting the international COICOP 2018 classification framework to improve representativeness, comparability, and granularity of inflation measurement.
• For January 2026 (Provisional), the All-India CPI (Combined) inflation stands at 2.75% year-on-year, with rural inflation at 2.73% and urban inflation at 2.77%. Food inflation (CFPI) is 2.13%, while housing inflation is recorded at 2.05%, indicating moderate and stable price pressures at the national level.
• Among major price movements, sharp declines were observed in essential food items such as garlic, onion, and potato, contributing to lower food inflation. Conversely, very high inflation was recorded in silver jewellery (159.67%), tomato (64.80%), and certain coconut and jewellery items, reflecting volatility in precious metals and select commodities.
• The revised CPI structure reflects changing consumption patterns, with a reduced weight for Food & Beverages and higher weight for housing, transport, services, and digital consumption items. Rural housing has been included for the first time, online markets have been incorporated, and digital price collection through CAPI (Computer Assisted Personal Interviewing) has been introduced to enhance data quality and timeliness.
• To ensure continuity for policymakers, financial institutions, and researchers, linking factors have been provided to connect the old CPI 2012 series with the new CPI 2024 series. Back series data from January 2013 onwards will be released, allowing consistent time-series analysis and supporting informed economic and monetary policy decisions.
[Notification No. 2227012]
