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India macro › CPI inflation › July 2026

CPI inflation, July 2026: 4.45%

India's consumer price inflation rose to 4.45% in July 2026 from 4.38% in June, the highest since December 2024. Food inflation was 5.24%, against 5.05% the month before. That is inside the RBI's 2–6% tolerance band, above its 4% target. The repo rate was 5.25% at the end of the month, 0.80 points above inflation.

July 2026June 2026July 2025
CPI inflation4.45%4.38%1.61%
Food inflation5.24%5.05%−0.84%
CPI inflation, food inflation and the repo rateAug 2023 – Oct 2026
−5%0%5%10%15%202420252026New CPI base (2024)4.45%
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.