Energy costs push wholesale inflation to 3.88%
India’s wholesale inflation, measured by the All India Wholesale Price Index (WPI), rose to 3.88% in March from 2.13% in February, according to data released by the Ministry of Commerce and Industry on Wednesday.
The increase was largely driven by higher prices of crude petroleum and natural gas, along with rising costs in manufacturing and primary commodities.
“Positive rate of inflation in March, 2026 is primarily due to an increase in prices of crude petroleum & natural gas, other manufacturing, non-food articles, manufacture of basic metals and food articles, etc.,” the Ministry of Commerce & Industry said.
Primary and fuel categories see sharp rise
Primary articles recorded inflation of 6.36%, led by a surge in crude oil and natural gas prices.
The fuel and power category turned positive at 1.05%, reflecting higher energy costs amid global uncertainties.
Manufacturing inflation remains elevated
Manufactured products saw inflation at 3.39%, with price increases observed across a majority of industrial categories.
Commenting on the trend, Rajeev Juneja said, “The sharp increase in WPI inflation in March 2026 over March 2025 reflects a more broad-based strengthening in price momentum driven by a jump in energy-related components and manufactured products, alongside a reversal of earlier softness in key primary commodities.”
Sequential rise in price momentum
On a month-on-month basis, the WPI index rose by 1.64% in March, compared to 0.38% in February, indicating an acceleration in price pressures.
Food prices remained largely stable, with the food index seeing a marginal dip during the month, according to official data.
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