India Inflation March 2022


India: Inflation rises to over one-year high in March

April 15, 2022

Consumer prices increased 0.96% from the previous month in March, accelerating from the 0.24% rise recorded in February. The reading was primarily due to rising prices for food and beverages. In addition, price pressures for clothing and footwear rose at a stronger pace.

Inflation came in at 7.0% in March, up from February’s 6.1%. March's result represented the highest inflation rate since October 2020. Annual average inflation rose to 5.5% in March (February: 5.4%).

Our panel projects inflation to average 5.0% in FY 2022, which is unchanged from last month’s forecast, and 4.6% in FY 2023.


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India Inflation Chart

India Inflation March 2022

Note: Annual and monthly variation of consumer price index (CPI) in %.
Source: Ministry of Commerce and Industry and FocusEconomics calculations.

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