The Ministry of Statistics and Programme Implementation (MoSPI) has released details of a new Consumer Price Index series, moving the base year from 2011-12 to 2023-24. The revision draws on the Household Consumption Expenditure Survey 2023-24. In the new basket, the weight of food and beverages falls from about 46% to around 37%, reflecting changing household spending. CPI tracks retail inflation through changes in consumer prices and is the main inflation gauge the RBI uses for monetary policy.