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India macro › CPI inflation › January 2021

CPI inflation, January 2021: 4.06%

India's consumer price inflation eased to 4.06% in January 2021 from 4.59% in December, the lowest since September 2019. Food inflation was 2.67%, against 3.87% the month before. That is inside the RBI's 2–6% tolerance band, above its 4% target. The repo rate was 4.00% at the end of the month, 0.06 points below inflation.

January 2021December 2020January 2020
CPI inflation4.06%4.59%7.59%
Food inflation2.67%3.87%11.72%
CPI inflation, food inflation and the repo rateFeb 2018 – Oct 2026
−5%0%5%10%15%20192020202120222023202420252026New CPI base (2024)4.06%
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.