Reports & IndicesSkim2026-03-12

MoSPI Revises CPI Base Year to 2024

What Happened

The Ministry of Statistics and Programme Implementation (MoSPI) updated the Consumer Price Index (CPI) base year from 2012 to 2024. This change incorporates data from the 2023-2024 consumption survey, expanding the basket to 358 items and significantly lowering the weight of food and beverages.

Why It Matters

The revision ensures inflation measurements reflect modern Indian consumption habits, such as increased spending on digital services, providing a more accurate basis for RBI monetary policy.

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