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India macro › CPI inflation › October 2023

CPI inflation, October 2023: 4.87%

India's consumer price inflation eased to 4.87% in October 2023 from 5.02% in September, the lowest since June 2023. Food inflation was 6.29%, against 6.30% 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, 1.63 points above inflation.

October 2023September 2023October 2022
CPI inflation4.87%5.02%6.77%
Food inflation6.29%6.30%7.10%
CPI inflation, food inflation and the repo rateNov 2020 – Oct 2026
−5%0%5%10%15%202120222023202420252026New CPI base (2024)4.87%
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.