India set to cut weight of food and beverages in consumer price index to 36.75% in new series

India is set to cut the weight of food and beverages in its consumer price index (CPI) to 36.75% in a new inflation series. This is much below the 45.86% weight in the current series with 2012 as the base year. The weight of food, without beverages, in the new series will be 34.77%. The statistics ministry has stated that the revamped data series will use 2024 as the base year, while 2025 will be used as ‌an overlapping year ‍between the old and new series so that past data can ‍be converted into the new base statistically. It also noted that the number of major ‌spending groups will be expanded to 12 from six, aligning India's inflation framework with international standards.

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