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India macro › CPI inflation › December 2023

CPI inflation, December 2023: 5.69%

India's consumer price inflation rose to 5.69% in December 2023 from 5.55% in November, the highest since August 2023. Food inflation was 8.70%, against 8.02% 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, 0.81 points above inflation.

December 2023November 2023December 2022
CPI inflation5.69%5.55%5.72%
Food inflation8.70%8.02%4.58%
CPI inflation, food inflation and the repo rateJan 2021 – Oct 2026
−5%0%5%10%15%20222023202420252026New CPI base (2024)5.69%
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.