{"id":6174,"date":"2026-04-15T22:08:34","date_gmt":"2026-04-15T16:38:34","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=6174"},"modified":"2026-04-15T22:08:35","modified_gmt":"2026-04-15T16:38:35","slug":"wpi-inflation-jumps-to-38-month-high-at-3-88-in-march","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/wpi-inflation-jumps-to-38-month-high-at-3-88-in-march\/","title":{"rendered":"WPI Inflation Jumps to 38-Month High at 3.88% in March"},"content":{"rendered":"\n
\"WPI<\/figure>\n\n\n\n

In March, India’s WPI inflation surged to a 38-month high as the economy was impacted by rising energy costs and manufacturing costs. The Wholesale Price Index (WPI) inflation rate increased to 3.88 percent on Wednesday, nearly doubling from 2.13 percent in February 2026, according to preliminary data released by the Ministry of Commerce and Industry. This is the first time wholesale inflation in India has reached this level since January 2023. After rising geopolitical tensions in West Asia, the rise was primarily driven by a sharp increase in crude petroleum, natural gas, and basic metals.<\/p>\n\n\n\n

Energy Prices Push WPI Inflation Higher<\/strong><\/h2>\n\n\n\n

The Fuel and Power sector was primarily responsible for the rise in WPI inflation in March 2026. In February, this segment experienced deflation, with a value of -3.78 percent. In March, however, its value increased to 1.05 percent. Crude petroleum and natural gas both experienced a significant month-over-month increase of 36.16 percent within this category. This demonstrates how domestic inflation is directly affected by global energy prices.  Crude oil prices have skyrocketed all over the world, reaching $120 per barrel earlier this month.  This rise is mainly due to supply disruptions and ongoing geopolitical issues in major oil-producing regions.<\/p>\n\n\n\n

 On March 26, the Indian government reduced excise taxes on gasoline and diesel by 10 per liter to provide some relief. However, the wholesale price index inflation still clearly reflects the impact of high energy costs despite this step.<\/p>\n\n\n\n

Breakdown of Wholesale Inflation Across Sectors<\/strong><\/h2>\n\n\n\n

The rise in wholesale inflation in India was not limited to one sector. It was seen across multiple categories.<\/p>\n\n\n\n

Primary Articles Inflation Increases<\/strong><\/h3>\n\n\n\n

Inflation in primary articles rose to 6.36% in March, compared to 3.27% in February.<\/p>\n\n\n\n

Although food prices showed some improvement, the sharp increase in minerals and crude oil pushed the overall index higher.<\/p>\n\n\n\n

Manufactured Products See Rising Costs<\/strong><\/h3>\n\n\n\n

Manufactured products, which make up more than 64% of the WPI, also saw inflation increase to 3.39%.<\/p>\n\n\n\n

Prices rose in 16 out of 22 industry groups, including:<\/p>\n\n\n\n