India's inflation rate based on the Consumer Price Index (CPI), with the new base year 2024, for the month of January this year is estimated at 2.75 percent compared to the same month of the previous year, according to official data released by the Ministry of Statistics on Thursday.

The food inflation came in at 2.13 percent during the month. Prices of vegetables such as potatoes, onions and garlic declined during January along with the prices of pulses such as arhar and tur. However, there was an increase in the price of tomatoes during the month. Housing Inflation was estimated at 2.05 percent. The data showed a sharp increase in the inflation rate for silver jewellery at per percent and in the case of gold jewellery at 46.77 percent.