A rise in fuel and light prices followed a Rs 60 hike in domestic 14.2 kg LPG cylinders and a Rs 114.50 increase in commercial cylinders.

In March, food basket inflation rose to 3.87% from 3.47% in February, with rural food at 3.96% and urban food at 3.71%.

Housing inflation stood at a provisional 2.11% for March 2026, with rural housing at 2.54% and urban housing at 1.95%.

India’s headline retail inflation climbed to 3.40% year-on-year in March 2026, from 3.21% in February, based on the All India CPI with base year 2024.

Officials noted ongoing global energy volatility stemming from West Asia conflict, while domestic petrol and diesel prices were cushioned by prior tax adjustments.

The RBI kept the repo rate unchanged, aiming to keep inflation near the 4% target on a durable basis.

Economists expect the RBI to pause for now, with potential rate cuts later in the fiscal year if growth weakens, but inflation remains a key monitoring point due to energy prices and monsoon prospects.

The CPI data cited in the story is based on the consumer price index; no Business Standard journalist contributed to this piece.

The next CPI data release for April 2026 is scheduled for May 12, 2026.

In its last meeting, the RBI’s MPC projected CPI inflation at about 4.6% for FY27 with a quarterly path of roughly 4.0% in Q1, 4.4% in Q2, 5.2% in Q3, and 4.7% in Q4.

The RBI’s FY27 inflation outlook notes that headline inflation has stayed within the 2–6% tolerance band, supported by favorable food prices and contained core inflation.

Personal care and miscellaneous goods surged about 18.65%, led by spikes in gold (jewellery) and silver jewellery prices.