India Wholesale Inflation
Year-on-year change in the wholesale price index (WPI): prices of goods at the first point of bulk sale.
Wholesale Inflation in India increased to 11.39 percent in Sep 2026 from 9.92 percent in Aug 2026.
India Wholesale Inflation — History
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India Wholesale Inflation — analysis in simple words
Latest reading
Wholesale Inflation in India increased to 11.39 percent in Sep 2026 from 9.92 percent in Aug 2026.
Over the last three months it rose twice and fell once.
Recent trend
A year earlier (Sep 2025) it was -0.20%, so the latest figure is 11.59 percentage points higher.
Over the past five years the average was 4.61%, with a range from -4.18% to 16.63%. The latest value is above that five-year average.
Historical context
This data series starts in Apr 2013 and has 162 monthly observations. The latest reading is higher than 90% of all of them.
The highest value on record is 16.63% (May 2022) and the lowest is -6.14% (Aug 2015). The long-run average is 3.24%.
Statistics
- Latest
- 11.39%Sep 2026
- Previous
- 9.92%
- 5-year average
- 4.61%
- Long-run average
- 3.24%since Apr 2013
- All-time high
- 16.63%May 2022
- All-time low
- -6.14%Aug 2015
- Observations
- 162Monthly
Recent Data
| Period | Value | Change |
|---|---|---|
| Sep 2026 | 11.39% | ▲ +1.47 pp |
| Aug 2026 | 9.92% | ▲ +0.14 pp |
| Jul 2026 | 9.78% | ▼ −0.19 pp |
| Jun 2026 | 9.97% | ▲ +0.09 pp |
| May 2026 | 9.88% | ▲ +1.52 pp |
| Apr 2026 | 8.36% | ▲ +4.38 pp |
| Mar 2026 | 3.98% | ▲ +1.80 pp |
| Feb 2026 | 2.18% | ▲ +0.99 pp |
| Jan 2026 | 1.19% | ▲ +0.89 pp |
| Dec 2025 | 0.30% | ▲ +0.89 pp |
| Nov 2025 | -0.59% | ▲ +0.59 pp |
| Oct 2025 | -1.18% | ▼ −0.98 pp |
| Sep 2025 | -0.20% | ▼ −0.20 pp |
| Aug 2025 | 0.00% | ▲ +0.79 pp |
| Jul 2025 | -0.79% | ▼ −0.39 pp |
| Jun 2025 | -0.40% | ▼ −0.20 pp |
| May 2025 | -0.20% | ▼ −0.80 pp |
| Apr 2025 | 0.60% | ▼ −0.61 pp |
| Mar 2025 | 1.21% | ▼ −0.40 pp |
| Feb 2025 | 1.61% | ▼ −0.20 pp |
| Jan 2025 | 1.81% | ▼ −0.40 pp |
| Dec 2024 | 2.21% | ▲ +0.21 pp |
| Nov 2024 | 2.00% | ■ 0.00 pp |
| Oct 2024 | 2.00% | ▲ +0.39 pp |
| Sep 2024 | 1.61% | ▲ +0.30 pp |
| Aug 2024 | 1.31% | ▼ −0.61 pp |
| Jul 2024 | 1.92% | ▼ −0.52 pp |
| Jun 2024 | 2.44% | ▲ +0.61 pp |
| May 2024 | 1.83% | ▲ +0.92 pp |
| Apr 2024 | 0.91% |
More India indicators
Understanding Wholesale Inflation — a simple guide
What it measures
The year-on-year change in the wholesale price index (WPI), which tracks the prices of goods at the first point of bulk sale — factory gate, mandi or importer — before retail margins and taxes are added.
How it is calculated
WPI (all commodities) this month ÷ the same month last year − 1, × 100. In India the index is compiled by the Office of the Economic Adviser (DPIIT) and published through MoSPI; the series here links base 2011-12 with the new base 2022-23.
If the WPI is 112.5 now and was 110.0 a year ago, wholesale inflation is (112.5 ÷ 110.0 − 1) × 100 = 2.3%.
High wholesale inflation raises input costs for businesses and usually pushes consumer prices up with a lag.
Low or negative wholesale inflation (deflation) eases cost pressure, often because fuel and commodity prices have fallen.
Why it matters for the economy and markets
Wholesale prices often move before consumer prices: when businesses pay more for fuel, metals or farm goods, part of that cost reaches shoppers a few months later. It is also a good measure of pressure on company profit margins.
How to read it
WPI has no services and gives a large weight to fuel, metals and primary goods, so it swings far more than consumer inflation and can turn negative when global commodity prices fall. Compare it with consumer inflation to see whether cost pressure is building up or easing.
What to look at alongside it
Consumer inflation, crude oil and metal prices, the exchange rate and industrial production.
Key terms
- WPI
- Wholesale Price Index — prices of goods traded in bulk.
- Primary articles
- Farm goods and minerals — a volatile part of WPI.
- Base year
- The year in which the index is set to 100; new bases update the basket of goods.
Data source
Ministry of Statistics and Programme Implementation (MoSPI), Government of India (series MoSPI/DPIIT WPI (All commodities)), monthly data from Apr 2013 to Sep 2026. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current wholesale inflation of India?
What is the highest and lowest wholesale inflation of India?
What does wholesale inflation measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.