FX.co ★ India’s CPI Inflation Ticks Up to 3.40% in March, Still Comfortably Below 4% Mark

India’s consumer price inflation edged higher in March 2026, with the CPI rising 3.40% year-over-year, up from 3.21% in February 2026. The data, updated on 13 April 2026, show that while price pressures have firmed slightly, inflation remains relatively contained in the lower half of the typical 2–6% comfort band often watched by markets.

Both readings are calculated on a year-over-year basis, comparing each month to the same month a year earlier. The February figure of 3.21% reflected annual price changes versus February of the prior year, while the latest 3.40% print measures inflation against March a year earlier.

The modest uptick suggests a gradual firming in consumer prices rather than a sharp acceleration, a nuance likely to matter for investors and policymakers assessing the trajectory of India’s inflation environment into the second quarter of 2026.