Ministry of Statistics and Programme Implementation releases March CPI inflation at 3.4%

Key facts

• India’s retail inflation quickened to 3.4% year-on-year in March from 3.21% in February under the revised CPI series with 2024 base year.
• Rural inflation stood at 3.63% and urban inflation at 3.11%.
• Food inflation rose to 3.87% in March from 3.47% in February.
• Inflation in electricity, gas and other fuels category was 1.65%.
• Garlic inflation was -10.18%, onion -27.76%, and potato -18.98%.
• Silver jewellery inflation was 148.61% and gold, diamond and platinum jewellery inflation was 45.92%.
• Housing inflation was 2.11%, clothing and footwear 2.75%, restaurants and accommodation services 2.88%, health 1.75%, and information and communication services 0.82%.
• Reserve Bank of India (RBI) 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 4.7% in Q4.
• Under the revised CPI basket, food and beverages weight declined to 36.75% and housing, utilities, and fuel-related categories weight rose to 17.7%.