New CPI Basket Shows Retail Inflation at 2.75% in January
New Delhi: India’s Ministry of Statistics and Programme Implementation (MoSPI) has released a new Consumer Price Index (CPI) series, using 2024 as the base year. January retail inflation under this series is reported at 2.75%.
Key Facts:
- Updated Base: The new CPI reflects current consumption patterns, unlike the previous series based on data 15 years prior.
- Inclusions/Exclusions: Goods like CDs were excluded; headphones were newly introduced.
- Weight Adjustments: Food items have a reduced weight, and gold/diamond jewelry collectively account for 0.62%.
- Back-Series Provided: A “back-series” of headline CPI figures dating back to 2013 has been provided.
