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India macro › CPI inflation › July 2024

CPI inflation, July 2024: 3.60%

India's consumer price inflation eased to 3.60% in July 2024 from 5.08% in June, the lowest since August 2019. Food inflation was 5.06%, against 8.36% the month before. That is inside the RBI's 2–6% tolerance band, below its 4% target. The repo rate was 6.50% at the end of the month, 2.90 points above inflation.

July 2024June 2024July 2023
CPI inflation3.60%5.08%7.44%
Food inflation5.06%8.36%10.57%
CPI inflation, food inflation and the repo rateAug 2021 – Oct 2026
−5%0%5%10%15%20222023202420252026New CPI base (2024)3.60%
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.