New Delhi, Feb. 24 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra on Monday said the new Consumer Price Index (CPI) series, based on 2024 prices, will better capture household consumption patterns and reduce volatility, leading to more accurate inflation estimates.

He was speaking after the post-Budget meeting of the RBI Central Board with Finance Minister Nirmala Sitharaman, PTI reported.

Data released on February 12 showed retail inflation at 2.75 per cent in January under the new series, which uses 2024 as the base year. The revised index, issued by the Ministry of Statistics and Programme Implementation, expands coverage to 358 items from 299 earlier.

Headline inflation in January - the first month under the new series - s...