India’s wholesale inflation hits series high at 11.39%
Rising input costs threaten to make production and distribution more expensive.
Overview
India’s rose to 11.39% in September, the highest in the . Energy and raw-material costs spread through the economy. Fuel and power prices rose 25.85%, food prices 8.66%, and factory-made goods 9.76%. Higher crude oil and natural gas costs made transport, electricity and production more expensive. Food costs rose both on farms and during processing.
measures prices paid in bulk and received by producers, not the prices households pay in shops. Some businesses may accept smaller profits, while others may raise prices later. That could strain household budgets, but consumer inflation will not rise by the same amount or at once. The figures also put pressure on producers and shoppers, while businesses that can set prices may recover more of their costs.
Timeline
WPI signal moves ahead of household prices
measures prices received by producers and traded at the wholesale stage, whereas measures prices paid by households for a consumer basket. Higher does not automatically produce an equal increase, because businesses can absorb costs, change margins, or pass them through with a delay. The effect on household budgets therefore depends on how energy, food and move through retailers and final prices.
Wholesale inflation reaches a series high
showed headline WPI inflation at 11.39% in September, up from 9.92% in August, the highest reading under the 2022-23 . Primary-articles inflation rose to 8.67%, while the increased from 110.8 to 112.5.
Food inflation rises through two channels
The WPI Food Index rose to 8.66% in September from 7.05% in August and carries a in the index. It combines food articles in Primary Articles with manufactured food products, capturing both and processing costs.
Factory-gate prices accelerate
Manufactured-products inflation rose to 9.76% from 8.37%, reaching a high for the current . The increase brought basic metals, chemicals, textiles, rubber and plastics, and electrical equipment into the broader cost surge. Manufacturers may absorb these costs, reduce margins, or .
Energy and commodity costs surge
Fuel and power inflation rose to 25.85% in September 2026 from 22.93% in August, with higher prices for , crude petroleum, natural gas, coal and contributing to the increase.
Wholesale inflation remains elevated in July
WPI inflation stood at 9.78% in July 2026, compared with 9.87% in June. inflation was 20.05%, manufactured-products inflation was 8.29%, and primary-articles inflation was 8.52%.
Pressure broadens across major groups
Headline rose to 9.92% in August from 9.78% in July. Fuel and power inflation climbed to 22.93%, manufactured-products inflation to 8.37%, and the to 7.05%, while primary-articles inflation was 7.76%.