A switching regulator includes a controller and a power stage for coupling to a load through an inductor and a capacitor. The a controller is operable to control operation of the power stage via a pulse width modulation (PWM) signal generated based on a difference between a reference voltage and the load voltage and sample the inductor current at a lower rate than the load voltage. The controller is further operable to estimate the capacitor current based on the sampled load voltage, generate an offset to the reference voltage based on the sampled inductor current and the estimated capacitor current and adjust the PWM signal applied to the power stage based on the offset. The switching regulator can be single-phase or multi-phase.