Market timing

India macro › CPI inflation › January 2024

CPI inflation, January 2024: 5.10%

India's consumer price inflation eased to 5.10% in January 2024 from 5.69% in December, the lowest since October 2023. Food inflation was 7.58%, against 8.70% 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, 1.40 points above inflation.

January 2024December 2023January 2023
CPI inflation5.10%5.69%6.52%
Food inflation7.58%8.70%–
CPI inflation, food inflation and the repo rateFeb 2021 – Oct 2026
−5%0%5%10%15%20222023202420252026New CPI base (2024)5.10%
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.