New CPI Series: Retail Inflation at 2.75%, Base Year Shifts to 2024

• India's retail inflation reached 2.75% in FY26 under the new CPI series, with the base year updated from 2012 to 2024 after a decade.
• The new series shows a significant reduction in the weight of food items to below 40%, while non-food categories now exceed 60%.
• Rural consumption has been given greater importance, reflecting its increasing role in overall demand.
• The CPI basket expanded from 299 to over 350 items, including new additions like AirPods, pet food, and fitness bands, to reflect evolving consumption patterns.
• Categories like housing, transport, and health services saw increased weightage, indicating a shift in inflation measurement towards services and discretionary spending.