Observable data points shared across all narratives
India reported January 2026 retail inflation at 2.75% under a revised Consumer Price Index (CPI) series following a government base-year update. The key actors are the Government of India (as the statistical authority revising the CPI series) and domestic households and businesses that use CPI-linked contracts and benchmarks. The change matters because a new CPI series can alter inflation comparisons, indexation mechanics, and how markets and policymakers interpret price trends.