Economy & Business
The first CPI on base 2024: inflation at 2.75 per cent
The first CPI on base 2024 (released 12 February 2026) put January 2026 retail inflation at 2.75%.
On 12 February 2026 the Statistics Ministry released the first Consumer Price Index on base 2024=100, replacing base 2012. The basket and weights come from the Household Consumption Expenditure Survey 2023-24, and items are grouped into 12 divisions under COICOP 2018 in place of the old 6 groups.
On the new series, retail inflation in January 2026 was 2.75 per cent (rural 2.73, urban 2.77). New in the basket: rural housing, streaming services, value-added dairy products, pen drives and babysitters; out: VCR and DVD players, radios, tape recorders and second-hand clothing.
Test yourself
Question 1
The new Consumer Price Index released in February 2026 has its weights based on which survey?
- AThe Periodic Labour Force Survey 2023-24
- BThe Household Consumption Expenditure Survey 2023-24
- CCensus 2011
- DThe National Family Health Survey-5
Show the answer and explanation
Correct answer: B
Explanation
The basket and weights come from the Household Consumption Expenditure Survey 2023-24.
What households actually buy decides what goes into a price index and how much it counts.
- Concept
- Basis of CPI 2024
- Typical time
- 50 seconds
- Written from
- pib.gov.in
Question 2
How many divisions does the CPI on base 2024 group its items into?
- A6
- B8
- C12
- D24
Show the answer and explanation
Correct answer: C
Explanation
The new series uses 12 divisions under COICOP 2018, in place of the old series' 6 groups.
COICOP is the UN classification of individual consumption by purpose.
- Concept
- Structure of CPI 2024
- Typical time
- 65 seconds
- Written from
- pib.gov.in
Question 3
What was all-India retail inflation in January 2026, in the first release of the new CPI series?
- A1.70 per cent
- B2.75 per cent
- C3.21 per cent
- D4.00 per cent
Show the answer and explanation
Correct answer: B
Explanation
Year-on-year CPI inflation for January 2026 on base 2024 was 2.75 per cent (provisional).
4 per cent is the inflation target, not a reading.
- Concept
- Inflation, January 2026
- Typical time
- 40 seconds
- Written from
- pib.gov.in