Ministry of Statistics & Programme Implementation has strengthened the measurement framework of the Consumer Price Index (CPI) through a comprehensive base revision from 2012=100 to 2024=100

**Executive Summary** The Ministry of Statistics & Programme Implementation (MoSPI) has revised the Consumer Price Index (CPI) base year from 2012=100 to 2024=100 to strengthen the measurement framework. Using the Household Consumption Expenditure Survey (HCES) 2023–24, the update incorporates expanded market coverage and e-commerce data to ensure the index remains representative of current consumption patterns. This information was officially communicated to the Rajya Sabha on March 23, 2026. **Key Points / Main Content** **Base Revision and Data Framework** * **New Base Year:** The CPI base year has been updated from 2012=100 to 2024=100. * **Data Source:** The revision utilizes the latest Household Consumption Expenditure Survey (HCES) 2023–24 to update item baskets and weights. * **Methodological Improvements:** Enhancements include the adoption of international classification systems and the inclusion of administrative data to improve robustness. **Expansion of Market Coverage** * **Physical Markets:** The number of sample markets in rural and urban areas has increased from 2,295 to 2,860 to ensure adequate representativeness. * **Online Markets:** Twelve online markets have been added across 12 major towns (with populations exceeding 25 lakhs as per the 2011 census) to capture price trends on e-commerce platforms. **E-commerce Price Collection Protocol** * **Mapping:** CPI basket items are mapped to the most popular e-commerce platforms by the regional offices of the Field Operations Division (FOD). * **Frequency:** Price collection for online items occurs weekly to account for price volatility. * **Scheduling:** Data is collected across all four weeks of a month during specific identified days and time slots. * **Compilation:** Monthly average prices derived from these weekly observations are used for the final CPI compilation. **Impact Analysis** **Ministry of Statistics & Programme Implementation (MoSPI) / Field Operations Division (FOD)** **Impact** The division faces an expanded data collection mandate, transitioning from 2,295 to 2,860 physical markets and integrating digital data streams. **Action Required** Regional offices must map CPI items to relevant e-commerce platforms and ensure strict adherence to weekly data collection schedules on identified days and time slots. **Economic Policy Makers and Analysts** **Impact** Stakeholders will have access to a more accurate and representative measure of inflation that reflects modern consumption habits, including digital commerce and updated household expenditure patterns. **Action Required** Analysts must transition from the 2012 series to the 2024 series for economic forecasting, policy formulation, and inflation monitoring.

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