What happened: CPI retail inflation reached a 19-month high in July 2026
India’s retail inflation measured by the Consumer Price Index (CPI) rose to 4.45% in July 2026, which was reported as the highest in 19 months. The reported main drivers are higher food and higher fuel/transport related prices.
MoSPI CPI sector-wise movements indicate higher transport costs and higher prices in food-related services such as restaurant and accommodation services. Some services categories show cooling, including healthcare and recreation/sports/culture.
Background and data-method context: CPI base-year change and sector-wise data availability
The CPI series used for the sector-wise interpretation is built on a 2024 base year. The sector-wise CPI breakdown used in the reported analysis is available only from January 2026 onward, which limits consistent sector-by-sector comparisons for months before January 2026 using the same sector-wise series.
What changed now in July 2026: food acceleration, fuel-linked services, and selective cooling
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