India's Retail Inflation Hits 14-Month High as NSO Updates CPI Base Year
The Ministry of Statistics and Programme Implementation (MoSPI) has officially revised the CPI base year from 2012 to 2024 to improve measurement accuracy.
The updated 2024 CPI basket now monitors 358 goods and services, a substantial increase from the 59 items tracked in the previous framework.
Key commodities saw extreme inflation: Silver jewelry rose by 144.34%, while essential vegetables like cauliflower and tomato surged by over 25% and 35% respectively.
Significance: Despite the 14-month high, the inflation rate remains within the RBI's target range of 4% (+/- 2%), suggesting stability in monetary policy.
Key Facts / Static GK
CPI Base Year: 2024 (Updated from 2012)
NSO: National Statistical Office
Practice Quiz — 18 May 2026
Q1. Under the new SEBI proposal regarding the Investor Protection Fund (IPF), what happens if a depository's administrative expenses exceed 5% of the annual income earned from IPF investments?
Q2. What is the primary function of the Unclaimed Deposit Reference Number (UDRN) generated on the RBI's UDGAM portal?
Q3. The newly launched 'Atlas' platform by FinBox aims to reduce the loan processing cycle from approximately 3 weeks to which of the following timeframes?
Q4. Regarding the updated Consumer Price Index (CPI) framework released in 2026, which of the following statements is true?
Q5. Which organization is establishing the ₹480 crore Naval Systems Manufacturing Facility at Anakapalli, Andhra Pradesh?
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