India January CPI To Rise To 2.4% On Food, Gold Prices: Reuters Poll
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Last Updated: 11th February 2026 - 02:53 pm
Summary:
India’s annual consumer inflation likely to rise to 2.4% in January, according to a Reuters poll of economists, driven by firmer food prices and higher gold and silver rates. The data, due on February 12, will be the first release under the new 2024-based CPI series with revised weightings and expanded consumption categories.
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India’s annual consumer price inflation is projected to rise to 2.4% in January, according to a Reuters poll of 34 economists conducted between February 5 and February 9.
Invest in Indian Markets and Unlock Future Potential With 5paisa!The estimate marks a sharp increase from 1.33% recorded in December under the previous CPI series. If confirmed, it would be the third consecutive monthly rise and the first time since August that inflation returns to the Reserve Bank of India’s 2%–6% target band.
Forecasts in the survey ranged between 1.40% and 3.10%.
January Data To Reflect New CPI Series
The January print will be released under a new CPI series based on 2024 prices. The revised structure reduces the weight of food to roughly 37% from about 46% under the earlier 2012-based series.
The updated index expands the number of major spending categories from six to twelve and includes new items such as e-commerce and digital services, along with airfares, telecom plans and selected online services.
Food And Precious Metals Drive Uptick
Economists surveyed indicated that firming food prices and higher gold and silver rates likely contributed to the projected increase.
Gold price rose by as much as 13% in January, while silver gained around 19% during the month. Core inflation, which excludes food and fuel components, was estimated by analysts at around 4.60% in January, broadly unchanged from December. India does not publish official core inflation data.
Wholesale Inflation Also Seen Higher
The Reuters poll also projected wholesale price index-based inflation at 1.25% in January, up from 0.83% in December.
Official CPI data for January is scheduled for release on February 12.
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