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India macro › CPI inflation › March 2024

CPI inflation, March 2024: 4.85%

India's consumer price inflation eased to 4.85% in March 2024 from 5.09% in February, the lowest since May 2023. Food inflation was 7.74%, against 7.76% the month before. That is inside the RBI's 2–6% tolerance band, above its 4% target. The repo rate was 6.50% at the end of the month, 1.65 points above inflation.

March 2024February 2024March 2023
CPI inflation4.85%5.09%5.66%
Food inflation7.74%7.76%5.11%
CPI inflation, food inflation and the repo rateApr 2021 – Oct 2026
−5%0%5%10%15%20222023202420252026New CPI base (2024)4.85%
Year-on-year inflation for All India, rural and urban combined. The CPI moved to a 2024 base in January 2026, so the figures either side of the dashed line come from different series.

Source: Ministry of Statistics and Programme Implementation (MoSPI). MoSPI revises earlier periods as fuller data arrives; this page shows the latest published figure. The latest figures for every indicator are on the India macro dashboard.