Govt To Release New Retail Inflation Series With Revised Base Year In 2026

The government will release a new series of key macroeconomic indicators, including retail inflation, national accounts and industrial production, with updated base years beginning early next year, the Ministry of Statistics and Programme Implementation (MoSPI) announced on Monday.

The revision aims to better reflect changes in consumption patterns, production structures and the overall economy.

New CPI Inflation Series To Be Released In February 2026

According to the official statement, a new Consumer Price Index (CPI) series for retail inflation, with 2024 as the base year (2024=100), will be released on February 12, 2026.

The updated CPI series will replace the existing base year and is expected to offer a more accurate picture of price trends by incorporating newer consumption data.

National Accounts And IIP Base Year Revision Timeline

Alongside inflation data, the government will also roll out revised national accounts and industrial output figures:

• National Accounts (GDP) with FY 2022–23 as the base year will be released on February 27, 2026
• Index of Industrial Production (IIP) with FY 2022–23 as the base year will be released on May 28, 2026

These revisions are part of a broader statistical overhaul to ensure macroeconomic indicators remain relevant and internationally comparable.

Pre-Release Consultative Workshop On December 23

Ahead of the data release, MoSPI will conduct a pre-release consultative workshop on December 23, 2025, focusing on the base revision of:

• Gross Domestic Product (GDP)
• Consumer Price Index (CPI)
• Index of Industrial Production (IIP)

This follows an earlier workshop held in Mumbai on November 26.

The objective is to present the proposed methodological and structural changes in the revised data series and gather feedback from stakeholders before finalisation.

Economists, Bankers And Policymakers To Participate

The workshop will bring together a broad range of participants, including:

• Eminent economists
• Experts from banks and financial institutions
• Core data users and subject specialists
• Senior officials from Central and State governments

Their inputs are expected to help refine the revised series and familiarise users with upcoming changes.

The event will be attended by:

• Suman K. Bery, Vice-Chairman, NITI Aayog (Chief Guest)
• V. Anantha Nageswaran, Chief Economic Advisor
• Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation
• N.K. Santoshi, Director General (Central Statistics), MoSPI

Why Base Year Revisions Matter

Base year revisions are a standard international practice. They help ensure that economic indicators:

• Reflect current consumption and production patterns
• Capture structural changes in the economy
• Improve accuracy and policy relevance

The upcoming revisions are expected to play a key role in shaping economic analysis, policymaking and market assessments in the coming years.

Related Topics:
Economy | Inflation | GDP | Industrial Production | Government Data

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