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The wholesale price inflation rate in India, according to the Wholesale Price Index (WPI), increased to a high of 38 months, or 3.88%, in March 2026 as compared to 2.13% in March 2025, as depicted by data released by the Ministry of Commerce and Industry on April 15.

The improvement was fueled by the high rise in crude petroleum and natural gas prices (up 51.57%), fuel and power bounces, and solid manufactured products. The energy price had gone to a higher level in West Asia due to the geopolitical unrest; it was among the first times in one year that the fuel and power group was in positive territory.

There was also acceleration in primary articles, but the inflation in food was not much. The economists observed the general increase, with a significant percentage of the increase comprising the crude and fuel groups.

This retail inflation reading translates into factory-gate inflation also rising, and worries are on the pressure on businesses on input costs and possible pass-through to consumers in the next few months.