SCHOLARS' CORNER
CBS LINE Volume 4(4) REBASING THE REALITY: A DIVE INTO THE REVISED CPI SERIES Ms. Annie Joseph Research Scholar Centre for Budget Studies, CUSAT Inflation, the sustained rise in the general price level, is tracked in India through the Consumer Price Index (CPI), which the Ministry of Statistics and Programme Implementation (MoSPI) releases on the 12th of every month. For the public and policymakers alike, it is a vital metric for economic planning. A significant milestone occurred in 2026 with the revision of the CPI base year to 2024=100, replacing the long-standing 2012=100 series. This update was facilitated by the Household Consumption Expenditure Survey (HCES) conducted by the National Sample Survey Office (NSSO) during 2022–23. While a survey was attempted in 2017–18, its results were not released due to data quality concerns, leaving the 2011–12 (68th round) as the previous benchmark. By utilizing the 2022–23 HCES data and the report released in 2024, the CPI basket's we...