The annual rate of inflation based on the All India Wholesale Price Index (WPI) number is 3.88% for the month of March, 2026 (over March, 2025). This rate of WPI is the highest in more than three years, after January 2023 when it was 4.8%. Positive rate of inflation in March, 2026 is primarily due to increase in prices of crude petroleum & natural gas, other manufacturing, non-food articles, manufacture of basic metals and food articles etc. The WPI was 2.13% in February and 1.68% in January. This inflation data is based on 2011-12 base year.
Wholesale Price Index for food articles was recorded at 1.85% in March. Comparatively it was the same (1.85%) in February and 1.51% in January 2026. Food articles have 24.38% weightage in the index, second highest after manufactured products having the Weightage of 64.23%.
Data released by the Ministry of Commerce & Industry says that the inflation for manufactured products was 3.39% in March as compared to 1.05% for fuel and power. But inflation for primary articles was recorded at 6.36%. It was 3.27% in February and 2.27% in January.
Among food articles, cereal prices came down (y-o-y) by 2.51% in March. Wheat prices were down by 4.6%, pulses by 5.17%, potatoes by 27.94% and onion by 42.11%. However, overall vegetable prices increased by 1.45%. Fruits became costlier by 2.11%, milk by 2.62% and eggs & meats by 6.63%.
WPI is showing an increasing trend since the last six months. It was -1.02% in October 2025, -0.13% in November, 0.96% in December, 1.68% in January 2026 and 2.13% in February this year. Among food articles, cereals are showing a continuous trend since the last six months. Except October 2025, wheat prices have shown a negative trend every month. But this negative trend for pulses is inevitable in all the previous six months.
All India Consumer Price Index (CPI) with base year 2024 was 3.40% in March. The Reserve Bank of India has projected CPI inflation at 4.6% for FY27, with quarterly estimates of 4.0% in Q1, 4.4% in Q2, 5.2% in Q3, and easing to 4.7% in Q4.