Record-low CPI hides ‘invisible inflation’, urban Indians now paying Hong Kong, Dubai–level costs, say experts

India’s headline inflation may be at one of its lowest points in history, but for urban Indians—especially those living in major metros like Gurgaon and Mumbai—the lived reality feels drastically different. Chartered Accountant and investment banker Sarthak Ahuja sparked a heated debate after posting a detailed analysis on LinkedIn, arguing that India’s official CPI numbers mask the true cost pressures faced by middle-class households. Advertisement

Ahuja opened his post with an eye-catching anecdote: friends visiting from San Francisco, Hong Kong, Dubai and Switzerland now say that the cost of living in Gurgaon is nearly identical to their global cities. “Whenever they visit India,” he wrote, “they end up spending the same amount on eating out, ordering in, salons and other such places.