January CPI inflation comes in at 4.06%; second consecutive month of headline figure within MPC range This was on the back of further cooling down of food prices. Consumer Food Price Inflation (CFPI) was 1.89 per cent in January, data by the National Statistical Office showed. February 12, 2021 / 06:12 PM IST Consumer Price Index-based inflation (CPI) for the month of January came in at 4.06 per cent, the second consecutive month of retail inflation falling within the Monetary Policy Committee’s medium-term inflation target range of 4 (+/-2 per cent), official data showed on February 12. This was on the back of further cooling down of food prices. Consumer Food Price Inflation (CFPI) was 1.89 per cent in January, data by the National Statistical Office (NSO) showed.