[Newsbits] 31.1.2026 – Daily Current Affairs Notes & Mindmap
New CPI Series 2023–24 Base Year
The Union Ministry of Statistics and Programme Implementation (MoSPI) has released details of a new Consumer Price Index (CPI) series. This update revises the base year from 2011–12 to 2023–24 and significantly cuts the weight of food and beverages in the inflation calculation.
- The new CPI series is an updated framework for measuring retail inflation in India. It uses 2023–24 as the base year and revises item weights based on the latest Household Consumption Expenditure Survey (HCES) of the same year.
- The primary aim is to better capture current consumption behavior,
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