diff --git a/src/Controls/src/Core/Handlers/Items2/iOS/LayoutFactory2.cs b/src/Controls/src/Core/Handlers/Items2/iOS/LayoutFactory2.cs
index 4f9df4314b92..e0adc6cb4c39 100644
--- a/src/Controls/src/Core/Handlers/Items2/iOS/LayoutFactory2.cs
+++ b/src/Controls/src/Core/Handlers/Items2/iOS/LayoutFactory2.cs
@@ -343,7 +343,17 @@ public static UICollectionViewLayout CreateCarouselLayout(
 					return;
 				}
 
-				var page = (offset.X + sectionMargin) / (env.Container.ContentSize.Width - sectionMargin * 2);
+				// Calculate page index accounting for ItemSpacing
+				var itemSpacing = itemsView.ItemsLayout is LinearItemsLayout linearLayout ? linearLayout.ItemSpacing : 0;
+
+				var effectiveItemWidth = env.Container.ContentSize.Width - sectionMargin * 2 + itemSpacing;
+
+				if (effectiveItemWidth <= 0)
+				{
+					return;
+				}
+
+				double page = (offset.X + sectionMargin) / effectiveItemWidth;
 
 				if (Math.Abs(page % 1) > (double.Epsilon * 100) || cv2Controller.ItemsSource.ItemCount <= 0)
 				{
diff --git a/src/Controls/tests/TestCases.HostApp/Issues/Issue32048.cs b/src/Controls/tests/TestCases.HostApp/Issues/Issue32048.cs
new file mode 100644
index 000000000000..d76183e5c825
--- /dev/null
+++ b/src/Controls/tests/TestCases.HostApp/Issues/Issue32048.cs
@@ -0,0 +1,78 @@
+namespace Maui.Controls.Sample.Issues;
+
+[Issue(IssueTracker.Github, 32048, "CurrentItem does not update when ItemSpacing is set", PlatformAffected.iOS)]
+public class Issue32048 : ContentPage
+{
+    CarouselView2 carouselView;
+    Label currentItemLabel;
+    string firstItem = "Baboon";
+
+    public Issue32048()
+    {
+        carouselView = new CarouselView2
+        {
+            AutomationId = "CarouselViewWithItemSpacing",
+            HeightRequest = 400,
+            BackgroundColor = Colors.LightGray,
+            ItemsLayout = new LinearItemsLayout(ItemsLayoutOrientation.Horizontal)
+            {
+                ItemSpacing = 10,
+                SnapPointsType = SnapPointsType.MandatorySingle,
+            },
+            ItemTemplate = new DataTemplate(() =>
+            {
+                Label label = new Label
+                {
+                    HorizontalOptions = LayoutOptions.Center,
+                    VerticalOptions = LayoutOptions.Center
+                };
+                label.SetBinding(Label.TextProperty, ".");
+
+                return new Grid
+                {
+                    Children = { label }
+                };
+            }),
+            ItemsSource = new string[]
+            {
+                "Baboon",
+                "Capuchin Monkey",
+                "Blue Monkey",
+                "Squirrel Monkey",
+                "Golden Lion Tamarin"
+            }
+        };
+
+        carouselView.CurrentItemChanged += OnCurrentItemChanged;
+
+        currentItemLabel = new Label
+        {
+            AutomationId = "Issue32048StatusLabel",
+            Text = "Failure"
+        };
+
+        Grid grid = new Grid
+        {
+            Padding = 25,
+            RowSpacing = 10,
+            RowDefinitions =
+            {
+                new RowDefinition(GridLength.Auto),
+                new RowDefinition(GridLength.Auto)
+            }
+        };
+
+        grid.Add(carouselView);
+        grid.Add(currentItemLabel, row: 1);
+
+        Content = grid;
+    }
+
+    void OnCurrentItemChanged(object sender, CurrentItemChangedEventArgs e)
+    {
+        if (e.CurrentItem is not null && e.CurrentItem.ToString() != firstItem)
+        {
+            currentItemLabel.Text = "Success";
+        }
+    }
+}
\ No newline at end of file
diff --git a/src/Controls/tests/TestCases.Shared.Tests/Tests/Issues/Issue32048.cs b/src/Controls/tests/TestCases.Shared.Tests/Tests/Issues/Issue32048.cs
new file mode 100644
index 000000000000..4c2f629aa245
--- /dev/null
+++ b/src/Controls/tests/TestCases.Shared.Tests/Tests/Issues/Issue32048.cs
@@ -0,0 +1,30 @@
+#if TEST_FAILS_ON_WINDOWS // Issue Link - https://github.com/dotnet/maui/issues/31670
+using NUnit.Framework;
+using UITest.Appium;
+using UITest.Core;
+
+namespace Microsoft.Maui.TestCases.Tests.Issues;
+
+public class Issue32048 : _IssuesUITest
+{
+	public Issue32048(TestDevice device) : base(device)
+	{
+	}
+
+	public override string Issue => "CurrentItem does not update when ItemSpacing is set";
+
+	[Test]
+	[Category(UITestCategories.CarouselView)]
+	public void VerifyCurrentItemUpdatesWithItemSpacing()
+	{
+		App.WaitForElement("CarouselViewWithItemSpacing");
+		App.ScrollRight("CarouselViewWithItemSpacing");
+
+#if MACCATALYST
+		Thread.Sleep(1000);
+#endif
+		var resultLabel = App.WaitForElement("Issue32048StatusLabel").GetText();
+		Assert.That(resultLabel, Is.EqualTo("Success"));
+	}
+}
+#endif
\ No newline at end of file