CPI Inflation
Latest reading: 4.82 % y-o-y for August 2026 (+0.37 pp MoM).
CPI Inflation
Year-on-year change in retail prices across a national basket of goods and services, the RBI's primary policy anchor. Base year 2024=100.
What it means
Year-on-year change in retail prices across a national basket of goods and services, the RBI's primary policy anchor. Base year 2024=100.
Aug 2026 provisional; July 2026 now final at 4.45%. Food inflation (CFPI) 5.95%. Next release date stated in the press note itself.
Release details
- Category
- INFLATION
- Frequency
- MONTHLY
- Previous
- 4.45
- Benchmark
- RBI inflation target: 4% ±2%
- Released
- 2026-09-14
- Next release
- 2026-10-12
- Source
- MoSPI — CPI Press Release
Key questions about CPI Inflation
What is the difference between headline CPI and core CPI inflation?
Headline CPI measures the price change of the full consumer basket, including food and fuel. Core CPI strips out food and fuel because those two groups are the most volatile month to month. The RBI watches headline CPI for its statutory target but tracks core CPI to judge how sticky underlying price pressure really is.
Who calculates and publishes India's CPI inflation rate?
The National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) compiles and releases the Consumer Price Index. It is published around the 12th of every month for the preceding month, using price data collected from selected urban and rural markets across the country.
What is the RBI's official inflation target for CPI?
Under the flexible inflation targeting framework, the RBI must keep headline CPI inflation at 4 percent, with a tolerance band of plus or minus 2 percent — so between 2 percent and 6 percent. A breach of that band for three consecutive quarters requires the RBI to submit a written explanation to the central government.
How does CPI inflation affect the repo rate and my loan EMI?
When CPI inflation runs above the 4 percent midpoint, the Monetary Policy Committee is more likely to hold or raise the repo rate, which pushes up EBLR-linked home and personal loan rates. When inflation cools toward or below 4 percent, the MPC has room to cut, and floating-rate EMIs fall at the next reset.
What is the current CPI Inflation?
CPI Inflation stands at 4.82 % y-o-y for August 2026, against 4.45 % y-o-y previously (+0.37 pp MoM). Year-on-year change in retail prices across a national basket of goods and services, the RBI's primary policy anchor. Base year 2024=100.
Who publishes the CPI Inflation data?
CPI Inflation is published by MoSPI — CPI Press Release on a monthly basis. Release window: 12th of following month (16:00 IST). The next update is expected on 2026-10-12.
What is a healthy level for CPI Inflation?
The reference benchmark used on MacroNest is: RBI inflation target: 4% ±2%. The latest reading of 4.82 % y-o-y is currently assessed as "Above target midpoint".
Why does CPI Inflation matter?
Inflation readings feed directly into the RBI's policy decisions, because the Monetary Policy Committee is mandated to keep headline CPI at 4 percent within a 2 to 6 percent band. Year-on-year change in retail prices across a national basket of goods and services, the RBI's primary policy anchor. Base year 2024=100.