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India macro › CPI inflation › May 2024

CPI inflation, May 2024: 4.80%

India's consumer price inflation eased to 4.80% in May 2024 from 4.83% in April, the lowest since May 2023. Food inflation was 7.87%, against 7.87% 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, 1.70 points above inflation.

May 2024April 2024May 2023
CPI inflation4.80%4.83%4.31%
Food inflation7.87%7.87%3.35%
CPI inflation, food inflation and the repo rateJun 2021 – Oct 2026
−5%0%5%10%15%20222023202420252026New CPI base (2024)4.80%
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.