India's Consumer Price Index (CPI) y/y reflects changes in prices for goods and services, in the specified month compared to the same month of the previous year. The index is calculated based on the prices of goods and services in the consumer basket, the composition of which reflects the consumption structure of Indian households.
CPI is the key indicator of India's inflation and economy state, which may influence interest rates and tax benefits. Being a measure of inflation, the CPI may have a strong impact on the value of the Indian rupee. Its growth can be seen as positive for the INR quotes.