CPI Data: Retail Inflation Jumps To 2.75% in January, Silver, Gold Rate Add To Inflation Heat

CPI Inflation Data: India's retail inflation data jumps to 2.75 per cent in January 2026, as per the data released by the Ministry of Statistics and Programme Implementation on Thursday, February 12. This is the first CPI inflation data release under the new methodology.

CPI inflation rates for rural and urban stood at 2.73% and 2.77%, respectively. Under the new arrangement, the base year was revised from 2012 to 2024 based on the Household Consumption Expenditure Survey 2023-24.

CPI Data in January: Food, Housing Inflation

Food inflation based on the All India Consumer Food Price Index (CFPI) for January 2026, over Jan 2025, stood at 2.13%. Whereas the corresponding inflation rate for rural and urban stood at 1.96% and 2.44% respectively. Housing inflation rate stood at 2.05% for the January month in 2026.

Top Items With Low Inflation and Highest Inflation

Garlic, onion, potato, arhar, tur and peas were among the top five items that saw the lowest inflation surge in January 2026. Whereas, silver jewellery, tomato, coconut (khopra), gold, diamond and platinum jewellery saw high inflation at All India combined level in January, 2026.

The inflation rate, measured by the Consumer Price Index (CPI), had stood at 0.71 per cent in November, indicating a noticeable acceleration during the month. The last time retail inflation was higher was in September 2025, when it touched 1.44 percent.

Despite the rise in headline inflation, food inflation remained in negative territory for the seventh consecutive month, reflecting continued softness in overall food prices. Food inflation stood at -2.71 per cent in December, although it moderated from -3.91 percent in November, suggesting a gradual firming up in prices of select food items.

New CPI Inflation Base Effect

India's CPI inflation data release also marked the implementation of a major change. The new CPI inflation will include a new base year, ie 2024 instead of 2012. The revamped CPI inflation formula will not just track food and fuel prices, but will also include modern-day expenses like online shopping, OTT subscriptions, and airfares. The changes could have wider implications for interest rates, EMIs and overall monetary policy.

The base year for CPI inflation has been revised from 2012 to 2024. This means that inflation will be measured by comparing today's prices (of general commodities and services) with prices in 2024.

As per PIB, the CPI inflation rejig will use data from the Household Consumption Expenditure Survey (HCES) 2023-24 to revise the item basket and expenditure weights so that they reflect current consumption patterns in both rural and urban India.