India’s inflation outlook heading into 2026 is set to be shaped by two pivotal forces: the introduction of a new Consumer Price Index (CPI) series and the evolving monetary policy stance of the Reserve Bank of India (RBI). The revised CPI framework is expected to better reflect contemporary consumption patterns, potentially altering how inflation is measured and interpreted. At the same time, the RBI faces the delicate task of anchoring price stability while supporting economic growth amid global volatility.