<p>The objective of this paper is to study the transmission of monetary policy rate changes in India to different components of the CPI-Combined. Using monthly data for the period January 2012–March 2024, and TVP-VAR models, we find vast differences in extent of transmission of monetary policy impulses to inflation across different commodity groups. We find that the transmission of policy impulses to inflation is largely through Clothing and footwear; Fuel and light; and Miscellaneous groups. In the latter it is largely due to Household goods and services; Transport and communication; and Personal care subgroups. We also find evidence of variation over time in this behaviour in many groups. In particular, whereas the transmission to overall inflation has improved, that to Housing has declined over time. We find evidence of initial positive response of food price inflation to policy impulse in some components of Food and beverages group, though it has disappeared of late, leading to better response of food inflation and general inflation to policy shocks.</p>