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India macro › CPI inflation › January 2023

CPI inflation, January 2023: 6.52%

India's consumer price inflation rose to 6.52% in January 2023 from 5.72% in December, the highest since October 2022. That is above the top of the RBI's 2–6% tolerance band. The repo rate was 6.25% at the end of the month, 0.27 points below inflation.

January 2023December 2022January 2022
CPI inflation6.52%5.72%6.01%
Food inflation–4.58%5.58%
CPI inflation, food inflation and the repo rateFeb 2020 – Oct 2026
−5%0%5%10%15%202120222023202420252026New CPI base (2024)6.52%
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.