Is India’s Retail Inflation at 2.75% for January 2024?
Synopsis
As India's inflation rate records at 2.75% for January, the new base year 2024 provides a fresh perspective on economic trends. With significant fluctuations in food and housing prices, this data offers crucial insights for policymakers and citizens alike. Discover how these changes might affect your financial decisions.
Key Takeaways
India’s inflation rate is recorded at 2.75% for January 2024.
Food inflation stands at 2.13% .
Significant price changes noted in silver and gold jewellery .
The base year for CPI has been updated to 2024 .
New items added to the CPI data reflect changing consumer habits.
New Delhi, Feb 12 (NationPress) The inflation rate in India, determined by the Consumer Price Index (CPI) with a revised base year of 2024, is estimated to be 2.75 percent for January this year, as per the official data released by the Ministry of Statistics on Thursday.
The rate of food inflation stands at 2.13 percent for the month, with prices of vegetables like potatoes, onions, and garlic witnessing a decline in January. Conversely, there has been a rise in the price of tomatoes. Housing inflation is estimated at 2.05 percent.
Notably, there has been a significant surge in the inflation rates for silver jewellery at 159.67 percent and gold jewellery at 46.77 percent.
For the previous month, December 2025, India's CPI inflation was recorded at 1.33 percent, which is slightly higher than 0.71 percent in November, with both figures based on the earlier base year of 2012.
The Consumer Price Index base has been updated from 2012 to 2024 using the Household Consumption Expenditure Survey 2023-24, according to the official statement.
“The Ministry of Statistics and Programme Implementation is now releasing the Consumer Price Index (CPI) with Base 2024=100. The item basket and their corresponding weights derive from the Household Consumption Expenditure Survey 2023-24. This revision aims to enhance the coverage and representativeness of the inflation measure, providing more precise data for policymakers, financial institutions, businesses, and citizens,” the statement elaborated.
In this new data, two divisions replace six groups according to the Classification of Individual Consumption According to Purpose (COICOP) 2018.
New items included are rural housing, online media service providers, value-added dairy products, barley and its products, pen-drives and external hard disks, as well as services for attendants, babysitters, and exercise equipment.
Items removed include VCR/VCD/DVD players, hiring charges, radios, tape recorders, second-hand clothing, CD/DVD audio/video cassettes, and coir/rope, according to the statement.
Point of View
It's crucial to highlight that understanding inflation metrics is vital for both policymakers and the general public. This new data, based on a refreshed base year, is not just numbers; it represents the livelihoods of millions. We must keep an eye on these trends as they have lasting implications on our economy and everyday expenses.
NationPress
6 May 2026
Frequently Asked Questions
What is the current inflation rate in India?
India's inflation rate for January 2024 is estimated at 2.75% based on the new Consumer Price Index.
How does the new base year affect inflation data?
The new base year of 2024 allows for more accurate representation of inflation trends based on updated consumption patterns.
What factors contributed to the rise in inflation?
Prices of commodities like silver and gold jewellery have sharply increased, alongside fluctuations in food items like tomatoes .
What are the new additions in the CPI data?
New additions include rural housing , online media services , and various consumer goods.
What items were removed from the CPI basket?
Removed items include VCR/VCD/DVD players and second-hand clothing .
