The annual inflation rate in India rose to 3.4% in March of 2026 from 3.21% in the previous month to mark the largest inflation rate in over one year, despite coming below median market expectations of 3.48%. It was only the third reading in India's new CPI, which updated the weights of different goods within the index according to the Household Consumption Expenditure Survey from two fiscal years ago, increasing the weight of non-food goods int the domestic consumer basket. Food inflation was at 3.87%, picking up from the 3.47% in the previous month. In the meantime, inflation inched higher for restaurants and accommodation (2.88% vs 2.73% in February) and prices were unchanged for transportation (vs -0.05%), despite surges in wholesale global energy prices. From the previous month, Indian consumer prices rose by 0.26%. source: Ministry of Statistics and Programme Implementation (MOSPI)

Inflation Rate in India increased to 3.40 percent in March from 3.21 percent in February of 2026. Inflation Rate in India averaged 5.61 percent from 2012 until 2026, reaching an all time high of 12.17 percent in November of 2013 and a record low of 0.25 percent in October of 2025. This page provides - India Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2026.

Inflation Rate in India increased to 3.40 percent in March from 3.21 percent in February of 2026. Inflation Rate in India is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Inflation Rate is projected to trend around 4.00 percent in 2027 and 4.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-12 10:30 AM
Inflation Rate YoY
Feb 3.21% 2.74% 3.1% 2.7%
2026-04-13 10:30 AM
Inflation Rate YoY
Mar 3.4% 3.21% 3.48% 3.4%
2026-05-13 10:30 AM
Inflation Rate YoY
Apr 3.4%

Components Last Previous Unit Reference
CPI Clothing and Footwear 106.39 106.11 points Mar 2026
CPI Education Services 105.42 105.36 points Mar 2026
Consumer Food Price Index (CFPI) 104.14 103.88 points Mar 2026
CPI Housing and Utilities 102.69 102.09 points Mar 2026
CPI Recreation, Sport and Culture 104.13 104.17 points Mar 2026
CPI Restaurants and Accommodation Services 106.34 105.96 points Mar 2026
CPI Transport 100.73 100.69 points Mar 2026
Food Inflation 3.87 3.47 percent Mar 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 104.84 104.57 points Mar 2026
GDP Deflator 172.60 170.20 points Dec 2024
Inflation Rate YoY 3.40 3.21 percent Mar 2026
Inflation Rate MoM 0.26 0.11 percent Mar 2026


India Inflation Rate
In India, the most important category in the consumer price index is Food and beverages (45.86 percent of total weight), of which Cereals and products (9.67 percent), Milk and products (6.61 percent), Vegetables (6.04 percent), Prepared meals, snacks, sweets, etc. (5.55 percent), Meat and fish (3.61 percent), and Oils and fats (3.56 percent). Miscellaneous accounts for 28.32 percent, of which Transport and communication (8.59 percent), health (5.89 percent), and education (4.46 percent). Housing accounts for 10.07 percent; Fuel and light for 6.84 percent; Clothing and footwear for 6.53 percent; and Pan, tobacco and intoxicants for 2.38 percent. Consumer price changes in India can be very volatile due to dependence on energy imports, the uncertain impact of monsoon rains on its large farm sector, difficulties transporting food items to market because of its poor roads and infrastructure and high fiscal deficit. In 2013, the consumer price index replaced the wholesale price index (WPI) as a main measure of inflation.
Actual Previous Highest Lowest Dates Unit Frequency
3.40 3.21 12.17 0.25 2012 - 2026 percent Monthly
NSA

News Stream
India Inflation Rises to 1-Year High
The annual inflation rate in India rose to 3.4% in March of 2026 from 3.21% in the previous month to mark the largest inflation rate in over one year, despite coming below median market expectations of 3.48%. It was only the third reading in India's new CPI, which updated the weights of different goods within the index according to the Household Consumption Expenditure Survey from two fiscal years ago, increasing the weight of non-food goods int the domestic consumer basket. Food inflation was at 3.87%, picking up from the 3.47% in the previous month. In the meantime, inflation inched higher for restaurants and accommodation (2.88% vs 2.73% in February) and prices were unchanged for transportation (vs -0.05%), despite surges in wholesale global energy prices. From the previous month, Indian consumer prices rose by 0.26%.
2026-04-13
India Keeps 4% Inflation Target with 2–6% Band Through 2031
India has reaffirmed its inflation-targeting framework, setting a 4% retail inflation goal with a tolerance band of 2–6% for the five years from April 2026 to March 2031. The decision, announced via a gazette notification by the Department of Economic Affairs in consultation with the Reserve Bank of India, maintains the existing policy structure. This marks the second consecutive extension of the framework, first introduced in 2016 and renewed in 2021. Under the flexible inflation targeting (FIT) regime, the six-member Monetary Policy Committee, led by the RBI Governor, is mandated to keep inflation around 4% while allowing room within the defined band. The move signals continuity in India’s monetary policy approach, providing stability and predictability for markets. Recent data showed retail inflation rising to 3.21% in February from 2.74% in the prior month.
2026-03-26
India Inflation Rises to 11-Month High
The consumer price index in India rose 3.21% annually in February of 2026, picking up from the 2.74% in the previous month and loosely in line with market expectations of 3.1% to mark the fastest pace of inflation in 11 months. The increase reflected the normalization of Indian inflation after a pullback in food prices drove the headline rate to continuously test record lows late last year. The food inflation gague rose to 3.47% from 2.13% last month. Prices also rose firmly for restaurants and accommodation (2.73%), clothing and footwear (2.81%), and paan and tobacco (3.49%). In turn, prices fell for transportation (-0.05%) amid the pullback in oil and gas costs in the wholesale market, which are set to rise in March due to the war in the Persian Gulf. From the previous month, prices inched higher by 0.11%.
2026-03-12