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Writer's picturePoonam Yadav
Apr 14, 20231 min read

Analyzing Inflation Trends in India: March 2023 Update

Inflation, more specifically, Consumer Price Index (General) has declined (Rural, Urban and Combined) between February 2023 and March 2022. The CPI witnessed a growth of 5.66%, compared to 6.44% from the previous month and 6.95% compared to last year’s CPI figures. The following analysis tries to delve into inflation in India, its components and spatial variation among states.


The following three infographics show the state-wise variation of CPI. The three infographics show, Inflation at the all-India level (Combined), Rural Inflation, and Urban Inflation. Among the states, Telangana witnessed the largest CPI (Combined) at 7.6%, whereas Chhattisgarh witnessed the least increase in CPI (Combined) at 1.9%.


NEEV Research works with profits and non-profits, think-tanks, academic research institutions, CSR and government bodies, policy makers, and the overall socio-development sector on social impact assessments studies; customised baseline and endline surveys; extensive data collection exercises; field & market research; primary & secondary research services; consumer insights; monitoring and evaluation studies; learning, training, and scaling; and social media and digital communication; and data visualisation solutions.

NEEV Research works with profits and non-profits, think-tanks, academic research institutions, CSR and government bodies, policy makers, and the overall socio-development sector on social impact assessments studies; customised baseline and endline surveys; extensive data collection exercises; field & market research; primary & secondary research services; consumer insights; monitoring and evaluation studies; learning, training, and scaling; and social media and digital communication; and data visualisation solutions.

NEEV Research works with profits and non-profits, think-tanks, academic research institutions, CSR and government bodies, policy makers, and the overall socio-development sector on social impact assessments studies; customised baseline and endline surveys; extensive data collection exercises; field & market research; primary & secondary research services; consumer insights; monitoring and evaluation studies; learning, training, and scaling; and social media and digital communication; and data visualisation solutions.

The following table shows the CPI levels for March 2023, February 2023, and March 2022.

NEEV Research works with profits and non-profits, think-tanks, academic research institutions, CSR and government bodies, policy makers, and the overall socio-development sector on social impact assessments studies; customised baseline and endline surveys; extensive data collection exercises; field & market research; primary & secondary research services; consumer insights; monitoring and evaluation studies; learning, training, and scaling; and social media and digital communication; and data visualisation solutions.

The Consumer Price Index (CPI) comprises of a basket of goods and services classified as Group and Sub-Group. The following table shows the Group and Sub-Group of items with the respective weights:

NEEV Research works with profits and non-profits, think-tanks, academic research institutions, CSR and government bodies, policy makers, and the overall socio-development sector on social impact assessments studies; customised baseline and endline surveys; extensive data collection exercises; field & market research; primary & secondary research services; consumer insights; monitoring and evaluation studies; learning, training, and scaling; and social media and digital communication; and data visualisation solutions.

In the 6 major Groups, Clothing and Footwear and Miscellaneous witnessed the largest increase in price levels followed by Pan, tobacco and intoxicants and Food and beverages. Housing, Fuel and light did not witness any increase in price level compared to Feb 2023.


Among the Sub-Groups Fruits, Vegetables, Milk and products witnessed the largest increase in the price level. However, Egg, Oils and fats, Cereals and products, and Sugar and confectionery saw a fall in price level compared to Feb 2023.


The above analysis has been carried out using Consumer Price Index data from the Ministry of Statistics and Programme Implementation (MOSPI).


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