Tools / India and its peers

India and its peers

Policy rates, inflation and growth in India and eight other emerging economies, from the same international sources for every country. Latest month all countries have reported: Sep 2026.

Country	Policy rate, %	CPI inflation, %	Real policy rate	Real GDP growth, 2025
Brazil	13.75	4.6	9.2	2.3%
Mexico	6.50	3.5	3.0	0.6%
South Africa	7.25	4.5	2.7	1.1%
Indonesia	5.75	3.3	2.5	5.1%
China	3.00	0.9	2.1	5.0%
Malaysia	2.75	1.8	1.0	5.2%
India	5.25	5.5	−0.3	7.6%
Thailand	1.00	2.8	−1.8	2.4%
Philippines	5.00	7.2	−2.2	4.4%

Real policy rate = policy rate minus the latest 12-month CPI inflation (site calculation); it looks backward, not at expected inflation. Rows are sorted by it.

Real policy rates

Policy rate minus CPI inflation, percentage points, Sep 2026

Source: BIS; site calculation.

Policy rates

%, end of month

Source: BIS central bank policy rates.

CPI inflation

% on a year earlier

Source: BIS consumer prices.

Real GDP growth

Annual %, World Bank

Source: World Bank, World Development Indicators.

Each source applies its own definitions, so India's figures here can differ slightly from the national figures elsewhere on this site (for example, the World Bank's year for India may not match the financial year on the Growth page). The IMF's data API refuses our scripts, so IMF projections are not shown. All nine countries are in the data downloads.