India · Consumer prices
India inflation watch
Last update: 15 Oct 2026
India's consumer prices rose 5.5% over the 12 months to Sep 2026 on MoSPI's 2024-base CPI. Food prices rose 7.7% and core inflation, which leaves out food and household fuels, was 4.6%. Food and beverages contributed 2.7 of the 5.5 points, the largest share of the twelve divisions.
MoSPI's consumer price index on the 2024 base, at every level of its classification: which divisions drive the headline, how rural and urban prices differ, and a matrix of every division's inflation month by month. Headline, food and core are available as individual Series below. What those parts add, set against the 4% target, Brent and the policy rate, is on the inflation drivers desk.
Food (CFPI)
7.7%Sep 2026Core CPI
4.6%Sep 2026Month on month
+0.7%Sep 2026Rural CPI
6.1%Sep 2026Urban CPI
4.9%Sep 2026Published MoSPI readings for the combined (rural plus urban) index, except core, an Exalytics calculation that removes food and beverages and electricity, gas and other fuels. The latest month is provisional until the next release.
Featured
Headline, food and core inflation
The 12-month change in consumer prices. Headline is the all-items CPI; food is the consumer food price index; core removes food and beverages and household fuels, the parts that swing most. The 2024-base series runs from January 2026 (the headline runs further back through MoSPI's linked back series); dashed lines are the 2012-base series to December 2025.
For example: A basket that cost ₹100 a year ago and costs ₹105.50 today means 12-month inflation of 5.5%.
Includes estimates
% year on year
RBI target 4%
- Headline
- Food
- Core
- Food · 2012 base
- Core · 2012 base
1 · Attribution
Contributions to headline inflation by division
Contributions to 12-month inflation, September 2026 · combined
Three numbers for each part of the basket: its weight, how much its own prices rose over twelve months, and what that added to 12-month inflation in percentage points. A small part with a big price rise can add as much as a big part with a small one. The twelve divisions add up to headline inflation; open any part to split it, down to single items, and rank the rows by any of the three.
For example: An item that is 1% of the basket and whose price doubles adds about 1 point; one that is 10% of the basket and rises 5% adds about half a point.
Includes provisional data
Rank by
- All items +5.54% +5.54 pts
Weight times price change is only a guide. Personal care, social protection and miscellaneous goods and services is 5.04% of the basket, but a year ago its prices were high next to the rest of the basket, so it was 5.35% of the basket's cost. Its price change applies to that share: 5.35% × +13.8% = +0.74 pts.
In September 2026 the combined index rose 5.5% over twelve months. Food and beverages contributed 2.71 points (49%) with its own prices up 7.4%; Personal care, social protection and miscellaneous goods and services added 0.74 (13%).
| Part | Weight | Share a year ago | Own price change | Contribution | Share of headline |
|---|---|---|---|---|---|
| 36.75% | 36.88% | +7.36% | +2.71 pts | 49.0% | |
| 5.04% | 5.35% | +13.75% | +0.74 pts | 13.3% | |
| 17.66% | 17.30% | +2.74% | +0.48 pts | 8.6% | |
| 8.80% | 8.57% | +5.01% | +0.43 pts | 7.7% | |
| 3.35% | 3.39% | +9.36% | +0.32 pts | 5.7% | |
| 6.38% | 6.49% | +3.93% | +0.25 pts | 4.6% | |
| 2.99% | 2.99% | +4.80% | +0.14 pts | 2.6% | |
| 4.47% | 4.44% | +3.11% | +0.14 pts | 2.5% | |
| 3.33% | 3.37% | +3.94% | +0.13 pts | 2.4% | |
| 3.61% | 3.60% | +2.44% | +0.09 pts | 1.6% | |
| 6.10% | 6.11% | +1.40% | +0.09 pts | 1.5% | |
| 1.52% | 1.51% | +2.16% | +0.03 pts | 0.6% | |
| Rounding of published indices | — | — | — | −0.01 pts | -0.1% |
| All items | 100.00% | — | +5.54% | +5.54 pts | 100% |
2 · Division matrix
Inflation by division over time
Inflation by division, month by month · combined
Each cell is a division's own inflation: its 12-month price change (or, with the monthly switch, the change on the previous month, not seasonally adjusted). Green is below the RBI's 4% target, red above it; the number is always printed. Columns run newest first.
For example: A row that stays red for a year is a division whose prices kept rising faster than 4%; a row that turns from red to green is one whose inflation fell below the target.
Includes estimates
| Inflation, 12-month % | Sep-26 | Aug-26 | Jul-26 | Jun-26 | May-26 | Apr-26 | Mar-26 | Feb-26 | Jan-26 | Dec-25 | Nov-25 | Oct-25 | Sep-25 | Aug-25 | Jul-25 | Jun-25 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| All items (CPI) | 5.5% | 4.8% | 4.5% | 4.4% | 3.9% | 3.5% | 3.4% | 3.2% | 2.7% | 1.3% | 0.7% | 0.3% | 1.4% | 2.1% | 1.6% | 2.1% |
| Food and beverages | 7.4% | 5.7% | 5.2% | 5.1% | 4.6% | 4.0% | 3.7% | 3.4% | 2.1% | -1.9% | -2.8% | -3.7% | -1.4% | 0.1% | -0.8% | -0.2% |
| Food (consumer food price index) | 7.7% | 6.0% | 5.5% | 5.3% | 4.8% | 4.2% | 3.9% | 3.5% | 2.1% | -2.7% | -3.9% | -5.0% | -2.3% | -0.6% | -1.8% | -1.0% |
| Paan, tobacco and intoxicants | 4.8% | 4.7% | 4.8% | 4.8% | 4.8% | 4.8% | 4.2% | 3.5% | 2.9% | 3.0% | 3.0% | 2.9% | 2.7% | 2.5% | 2.5% | 2.4% |
| Clothing and footwear | 3.9% | 3.6% | 3.4% | 3.2% | 3.0% | 2.8% | 2.8% | 2.8% | 3.0% | 1.4% | 1.5% | 1.7% | 2.3% | 2.3% | 2.5% | 2.6% |
| Housing, water, electricity, gas and other fuels | 2.7% | 2.6% | 2.2% | 2.0% | 1.7% | 1.7% | 2.0% | 1.5% | 1.5% | — | — | — | — | — | — | — |
| Housing rent | 2.4% | 2.3% | 2.1% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 1.9% | 2.9% | 3.0% | 3.0% | 3.0% | 3.1% | 3.2% | 3.2% |
| Electricity, gas and other fuels | 3.2% | 3.1% | 2.0% | 1.7% | 0.8% | 0.7% | 1.6% | 0.1% | 0.2% | 2.0% | 2.3% | 2.0% | 2.0% | 2.3% | 2.7% | 2.6% |
| Furnishings and household equipment | 3.1% | 2.7% | 2.4% | 2.2% | 1.9% | 1.6% | 1.4% | 1.4% | 1.5% | 1.9% | 2.0% | 2.3% | 2.4% | 2.5% | 2.6% | 2.6% |
| Health | 1.4% | 1.3% | 1.3% | 1.4% | 1.5% | 1.7% | 1.8% | 1.9% | 2.2% | 3.4% | 3.6% | 3.8% | 4.4% | 4.4% | 4.6% | 4.4% |
| Transport | 5.0% | 4.6% | 4.4% | 4.3% | 1.8% | 0.0% | 0.0% | -0.1% | 0.1% | — | — | — | — | — | — | — |
| Information and communication | 2.4% | 2.0% | 0.6% | 0.4% | 0.3% | 0.5% | 0.3% | 0.3% | 0.2% | — | — | — | — | — | — | — |
| Recreation, sport and culture | 2.2% | 1.7% | 1.6% | 1.7% | 2.0% | 2.1% | 2.5% | 2.2% | 2.3% | 1.2% | 1.3% | 1.5% | 2.0% | 2.2% | 2.4% | 2.5% |
| Education services | 3.9% | 3.7% | 3.7% | 3.4% | 3.0% | 3.2% | 3.3% | 3.3% | 3.4% | 3.4% | 3.4% | 3.5% | 3.4% | 3.6% | 4.1% | 4.4% |
| Restaurants and accommodation | 9.4% | 8.4% | 7.7% | 6.9% | 5.7% | 4.2% | 2.9% | 2.7% | 2.9% | — | — | — | — | — | — | — |
| Personal care and miscellaneous | 13.8% | 15.2% | 14.8% | 16.7% | 18.5% | 17.7% | 18.6% | 19.7% | 19.1% | 28.2% | 24.1% | 23.9% | 19.4% | 16.7% | 15.1% | 14.8% |
| Core CPI (excluding food and fuel) * | 4.6% | 4.4% | 4.2% | 4.2% | 3.8% | 3.4% | 3.4% | 3.4% | 3.4% | 4.6% | 4.3% | 4.3% | 4.4% | 4.2% | 4.1% | 4.4% |
In September 2026, Personal care and miscellaneous had the highest 12-month inflation at 13.8% and Health the lowest at 1.4%; 6 of 15 divisions and groups were above the 4% target. Headline inflation has been above 4% for 4 consecutive months.
* Core is an Exalytics calculation (all items without food and beverages and household fuels). Columns up to December 2025 (outlined) read the 2012-base series for the categories that map one to one; Transport, Information and communication, Restaurants and accommodation and the Housing division have no 2012 counterpart and stay blank there. Italic cells are provisional.
How the 2012-base columns map to the 2024 rows
| 2024-base row | 2012-base series | Note |
|---|---|---|
| All items (CPI) | General | Same concept; different base and basket |
| Food and beverages | Food and Beverages | Division 01 corresponds to the 2012 group |
| Food (consumer food price index) | Consumer Food Price | The CFPI is group 01.1 in the 2024 series |
| Paan, tobacco and intoxicants | Pan, Tobacco and Intoxicants | Same scope |
| Clothing and footwear | Clothing and Footwear | Same scope |
| Housing rent | Housing | The 2012 Housing group was house rent; the 2024 division 04 adds water and fuels so only its rent group compares |
| Electricity, gas and other fuels | Fuel and Light | Same scope: electricity and household fuels; motor fuels are in transport in both series |
| Furnishings and household equipment | Household Goods and Services | Miscellaneous subgroup in the 2012 series |
| Health | Health | Miscellaneous subgroup in the 2012 series |
| Recreation, sport and culture | Recreation and Amusement | Miscellaneous subgroup in the 2012 series |
| Education services | Education | Miscellaneous subgroup in the 2012 series |
| Personal care and miscellaneous | Personal Care and Effects | Miscellaneous subgroup in the 2012 series; gold and silver jewellery sit here in both |
| Core CPI (excluding food and fuel) | Core CPI (excluding food and fuel) | Both Exalytics calculations with each base's weights |
3 · Rural and urban
Rural and urban inflation
Headline inflation: rural, urban and combined
The all-items 12-month change for each sector on the 2024 base, with MoSPI's linked back series before 2025. Rural weights lean to food, so food price swings move the rural line more.
For example: If rural inflation is 6.1% and urban 4.9%, the gap of 1.2 points is mostly food, which is two fifths of the rural basket.
Includes estimates
% year on year
RBI target 4%
- Combined
- Rural
- Urban
4 · Largest movers
Largest price movements by item, September 2026
Own 12-month price change of each item, combined index. A large price change in a small item adds little to the headline: the contribution column is weight × index change ÷ last year's all-items index, in points of headline inflation.
| Item | Division | Price change | Weight | Contribution |
|---|---|---|---|---|
| Onion | Food and beverages | +108.1% | 0.70% | +0.50 pts |
| Silver jewellery | Personal care, social protection and miscellaneous goods and services | +87.8% | 0.31% | +0.39 pts |
| Ginger | Food and beverages | +62.9% | 0.26% | +0.10 pts |
| Garlic | Food and beverages | +54.6% | 0.37% | +0.10 pts |
| Lemon | Food and beverages | +36.4% | 0.14% | +0.04 pts |
| Item | Division | Price change | Weight | Contribution |
|---|---|---|---|---|
| Coconut oil | Food and beverages | −29.5% | 0.06% | −0.03 pts |
| Potato | Food and beverages | −11.5% | 0.75% | −0.07 pts |
| Tomato | Food and beverages | −8.6% | 0.50% | −0.04 pts |
| Peas, chickpeas | Food and beverages | −7.6% | 0.05% | −0.00 pts |
| Motor car and jeep | Transport | −4.5% | 0.47% | −0.02 pts |
Sources and methods
Sources and methodology
Two bases
MoSPI moved the CPI to base 2024=100 with the January 2026 release, replacing six groups with twelve COICOP divisions and new weights from the 2023-24 household consumption survey. Published 12-month inflation on the new base exists from January 2026. The headline is carried back with MoSPI's own linked series; 2025 inflation across that link is an Exalytics calculation and is marked as such. The 2012-base series ends with December 2025 and is shown separately, never joined to the new one inside a cell.
Contributions
MoSPI publishes indices and inflation rates, not contributions. A division's contribution is its basket weight times its index change over twelve months, divided by last year's all-items index: the twelve add up to headline inflation up to the rounding of published indices, which the residual row shows. A share divides a part's contribution by its parent's, so each level adds to 100%.
Core
Core removes food and beverages (division 01) and electricity, gas and other fuels (group 04.5) at their weights, the usual Indian reading; motor fuels stay in, inside transport. For the 2012 base it removes food and beverages and fuel and light with that series' combined weights.
Snapshot
Version india-cpi-942e7763807cdcf5. Published 15 Oct 2026; loaded 15 Oct 2026. All displayed observations are from the same approved snapshot. Next release: MoSPI CPI press release for Oct 2026, 12 November 2026.
Sources: MoSPI eSankhyiki, consumer price index (the portal's own API, pinned per request), MoSPI CPI press releases, and the Expert Group report on the base revision with its Annex 5.3 weights.