India’s wholesale price inflation (WPI) accelerated to 3.88% (provisional) in March 2026, marking a sharp rise from 2.13% in February and 1.68% in January, according to data released by the Ministry of Commerce and Industry.
The uptick in inflation was primarily driven by higher prices of crude petroleum & natural gas, fuel, manufactured products, and select food items, indicating renewed cost pressures across key sectors of the economy.
On a month-on-month basis, wholesale prices rose 1.64% in March, reflecting a sequential pickup in inflation momentum compared to February.
Primary articles inflation spikes sharply
Inflation in primary articles surged to 6.36% in March, driven largely by a sharp increase in crude petroleum and natural gas prices.
While energy-linked components saw strong gains, some food categories showed moderation. Prices of food articles declined marginally on a monthly basis, even as broader primary inflation remained elevated.
Fuel and power segment turns positive
The fuel and power category recorded a 1.05% annual inflation rate, reversing the deflationary trend seen in previous months.
On a sequential basis, the index rose 4.13% in March, led by an increase in mineral oil prices, highlighting the impact of rising global energy costs.
Manufactured products inflation edges higher
Inflation in manufactured products stood at 3.39%, with price increases observed across sectors such as food products, chemicals, basic metals, and textiles.
Out of 22 manufacturing groups, 16 witnessed price increases, signalling broad-based cost pressures in industrial production.
Food index remains stable
The WPI food index inflation remained steady at 1.85% in March, indicating relative stability in food prices despite volatility in other segments.
Inflation trend shows sharp pickup
The latest data reflects a clear upward trajectory in wholesale inflation, with WPI rising consistently over the past three months. The sharp jump in March suggests that input cost pressures are building up again, particularly from energy and commodity-linked segments.
The government releases WPI data monthly, and the next update for April 2026 is scheduled for May 14, 2026.