India’s consumer price inflation increased more-than-expected in January under the new data series, official data revealed on Thursday.
Consumer price inflation rose to 2.75 percent in January from 1.33 percent in December. Economists had expected inflation to rise to 2.4 percent.
Moreover, inflation came within the RBI’s tolerance band of 2-6 percent.
The base year is revised from 2012 to 2024 using the household consumption expenditure survey 2023-24, and the new series added key components, including rural housing, online shopping, and streaming services, in order to better reflect current consumption patterns.
Food prices logged a renewed increase of 2.13 percent, reversing a 2.71 percent decline in December. Housing and utility costs grew 1.53 percent from last year, and clothing and footwear prices were 2.98 percent more expensive. Meanwhile, transport charges rose only 0.09 percent.
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