New Delhi, March 17 -- Wholesale price index (WPI) inflation is expected to rise to a 21-month high of 3.2 per cent in March 2026, driven by rising food and commodity prices, according to a report by ICRA.

The report noted that inflationary pressures are building up amid an increase in global commodity prices, including crude oil, natural gas and edible oils, along with a fall in the USD/INR pair, which is exerting upward pressure due to India's high import dependence.

It stated "WPI inflation set to harden to 3.2 per cent in March 2026.... global commodity prices, including crude oil, natural gas and edible oils have rose considerably, which along with the fall in the USD/INR pair would exert an upward pressure on the WPI"

According t...