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• The rate of retail inflation (CPI) in the country has reached 3.48 percent and the rise in inflation for the sixth consecutive month has worsened the economic calculus of the middle class.
• Kitchen budgets collapsed as food and beverage inflation rose to 4.20 per cent, while silver jewelery prices saw a steep hike of over 144 per cent.
• If inflation does not come down, the Reserve Bank (RBI) is likely to take a tougher decision on interest rates, raising fears that home loan installments (EMIs) will become expensive.

Indian Economy: Prime Minister Narendra Modi’s appeal to the public to refrain from buying gold and reduce petrol-diesel consumption has fueled uneasiness among the middle class and businessmen. The sixth consecutive rise in inflation in the month has rubbed salt in the wounds of the middle class. The Consumer Price Index (CPI), which measures retail inflation in the country, has reached 3.48%. Earlier in March 2026 this index was 3.40%.

If food prices do not come down in the near future, the RBI may take a tougher stance on interest rates. In such a situation, pressure is likely to increase on the general public in everything from EMI to daily expenses. Meanwhile, there are indications of an increase in the prices of petrol-diesel and LPG in the coming period.

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The kitchen budget collapsed

Food inflation increased to 4.20%. Inflation in rural areas is 4.26% and in urban areas it is 4.10%. This will have a direct impact on the kitchen budget. According to the report, food and beverages inflation was recorded at 4.01% in April, silver jewelery inflation rate stood at 144.34%, while gold, diamond and platinum jewelery rose by 40.72%. Prices of coconuts, tomatoes and flowers have also risen sharply, with Telangana recording the highest inflation among states at 5.81%.

A sharp rise in food inflation has also been recorded. The rate of food inflation has gone up to 4.20 percent and it has remained at 4.26 percent in rural areas and 4.10 percent in urban areas. This has a direct impact on the household kitchen budget.

According to the report, food and beverage inflation was recorded at 4.01 percent in the month of April. Silver jewelery prices increased by 144.34 per cent, while gold, diamond and platinum jewelery prices rose by a whopping 40.72 per cent. This is creating huge financial stress on families who buy gold for weddings and investments.

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3.5 crore livelihood crisis

After the Prime Minister’s appeal, the All India Jewelers and Goldsmiths Federation has written a letter to the Union Commerce Minister Piyush Goyal expressing its concern. According to the association, if there is a sharp drop in gold demand, the livelihoods of around 3.5 crore people in the country could be affected, adding to the sector’s small bullion, artisans, designers, polishers and transporters. The letter said that if the demand decreases, the employment of all of them will be affected.

Fuel price hike signal

Rising crude oil prices in the global market and pressure on the rupee against the dollar are expected to increase the prices of petrol, diesel and LPG cylinders in the near future. Hence the increase in transport costs may again impact the commodity prices.

Against this background, central government is emphasizing on fuel saving, use of electric vehicles and avoiding unnecessary expenses. However, due to rising inflation, possibility of fuel price hike and increase in daily expenses, the financial calculations of common citizens are seen to be deteriorating.