MoSPI releases Expert Group report on new CPI 2024 series; 358 items, COICOP 2018, release on 12 February 2026
On 29 January 2026 MoSPI released the Expert Group report on the new Consumer Price Index series (CPI 2024), which uses the COICOP 2018 classification, weights from HCES 2023-24 and a basket of 358 items; the series was to be released on 12 February 2026.
Summary
The Ministry of Statistics and Programme Implementation released the report of the Expert Group on Comprehensive Updation of the CPI on 29 January 2026. Key recommendations include adopting the COICOP 2018 classification, updating the item basket and weights using the Household Consumption Expenditure Survey (HCES) 2023-24, and using administrative and online/e-commerce price data. The CPI 2024 basket has 358 weighted items in 12 divisions. The new series was to be released on 12 February 2026 with indices from January 2025 and inflation for January 2026.
Key facts
- New series
- CPI 2024 (base revision)
- Classification
- COICOP 2018 — 12 divisions, 43 groups, 62 classes, 192 sub-classes
- Item basket
- 358 weighted items
- Weights from
- Household Consumption Expenditure Survey (HCES) 2023-24
- New data sources
- Administrative and online/e-commerce data
- Release date
- 12 February 2026 (indices from Jan 2025; back series from Jan 2013)
Practice MCQs 2 questions
How many weighted items does the basket of the new CPI 2024 series have, as per the Expert Group report released in January 2026?
Show answer
Correct answer: B — 358
PIB: The CPI 2024 item basket comprises 358 weighted items mapped to 12 divisions as per COICOP 2018.
Which survey provides the item weights for the new CPI 2024 series?
Show answer
Correct answer: D — Household Consumption Expenditure Survey 2023-24
PIB: The Expert Group recommended updating the CPI basket and weights using HCES 2023-24.