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India macro › CPI inflation › April 2023

CPI inflation, April 2023: 4.70%

India's consumer price inflation eased to 4.70% in April 2023 from 5.66% in March, the lowest since October 2021. Food inflation was 4.16%, against 5.11% the month before. That is inside the RBI's 2–6% tolerance band, above its 4% target. The repo rate was 6.50% at the end of the month, 1.80 points above inflation.

April 2023March 2023April 2022
CPI inflation4.70%5.66%7.79%
Food inflation4.16%5.11%8.10%
CPI inflation, food inflation and the repo rateMay 2020 – Oct 2026
−5%0%5%10%15%202120222023202420252026New CPI base (2024)4.70%
Year-on-year inflation for All India, rural and urban combined. The CPI moved to a 2024 base in January 2026, so the figures either side of the dashed line come from different series.

Source: Ministry of Statistics and Programme Implementation (MoSPI). MoSPI revises earlier periods as fuller data arrives; this page shows the latest published figure. The latest figures for every indicator are on the India macro dashboard.