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India macro › CPI inflation › September 2023

CPI inflation, September 2023: 5.02%

India's consumer price inflation eased to 5.02% in September 2023 from 6.83% in August, the lowest since June 2023. Food inflation was 6.30%. 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, 1.48 points above inflation.

September 2023August 2023September 2022
CPI inflation5.02%6.83%7.41%
Food inflation6.30%–8.41%
CPI inflation, food inflation and the repo rateOct 2020 – Oct 2026
−5%0%5%10%15%202120222023202420252026New CPI base (2024)5.02%
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.