Wholesale prices in India rose by 1.08 percent year-on-year in July 2019, slowing from a 2.02 percent gain in the previous month and missing market expectations of 1.93 percent. It was the lowest wholesale rate since June 2017, mainly due to a slowdown in manufacturing inflation and a decline in fuel prices. Producer Prices Change in India averaged 7.01 percent from 1969 until 2019, reaching an all time high of 34.68 percent in September of 1974 and a record low of -11.31 percent in May of 1976.

Producer Prices Change in India is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in India to stand at 3.20 in 12 months time. In the long-term, the India Wholesale Price Index Change is projected to trend around 5.10 percent in 2020, according to our econometric models.

India Wholesale Price Index Change
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Calendar GMT Actual Previous Consensus TEForecast
2019-08-14 06:30 AM WPI Food YoY Jul 6.15% 6.98%
2019-08-14 06:30 AM WPI Fuel YoY Jul -3.64% -2.2%
2019-08-14 06:30 AM WPI Manufacturing YoY Jul 0.34% 0.94%
2019-08-14 06:30 AM WPI Inflation YoY Jul 1.08% 2.02% 1.93% 2%
2019-09-16 06:30 AM WPI Inflation YoY Aug 1.08% 1.04% 1.1%
2019-09-16 06:30 AM WPI Food YoY Aug 6.15%
2019-09-16 06:30 AM WPI Manufacturing YoY Aug 0.34%



India Wholesale Inflation Slows to Over 2-Year Low

Wholesale prices in India rose by 1.08 percent year-on-year in July 2019, slowing from a 2.02 percent gain in the previous month and missing market expectations of 1.93 percent. It was the lowest wholesale inflation rate since June 2017.

Manufacturing inflation, which contributes around 64 percent to the wholesale price index, slowed to 0.34 percent in July from 0.94 percent in June, as prices increased at a softer rate for chemical & chemical products (0.42 percent vs 1.45 percent), textiles (1.36 percent vs 2.67 percent), and wood and products of wood and cork (1.36 percent vs 1.43 percent). In addition, prices fell for both rubber and plastics (-0.27 percent vs 0.18 percent) and basic metals (-4.28 percent vs -3.72 percent).

Prices of primary articles advanced 5.03 percent, compared to 6.72 percent a month earlier, as cost of food articles rose less (6.15 percent vs 6.98 percent in June), in particular vegetables (10.67 percent vs 24.76 percent), pulses (20.08 percent vs 23.06 percent) and milk (0.28 percent vs 0.91 percent). On the other hand, there were declines in sugar cost (-0.94 percent vs 4.01 percent) and potato prices (-23.63 percent vs -24.27 percent).

Meanwhile, wholesale prices of fuel products, including petrol, diesel and cooking gas, fell further (-3.64 percent vs -2.20 percent).

On a monthly basis, wholesale prices fell by 0.2 percent in July, following a 0.2 percent gain in June.


Office of the Economic Advisor | Rida Husna | rida@tradingeconomics.com
8/14/2019 2:42:39 PM



India Prices Last Previous Highest Lowest Unit
Inflation Rate 3.21 3.15 12.17 1.54 percent [+]
Consumer Price Index CPI 144.90 144.20 144.90 86.81 Index Points [+]
GDP Deflator 134.80 129.70 146.50 100.00 Index Points [+]
Producer Prices 121.20 121.50 122.00 62.44 Index Points [+]
Producer Prices Change 1.08 2.02 34.68 -11.31 percent [+]
Export Prices 376.00 372.00 376.00 100.00 Index Points [+]
Import Prices 513.00 523.00 523.00 100.00 Index Points [+]
Food Inflation 2.99 2.36 14.72 -2.65 percent [+]
Inflation Expectations 7.90 8.10 16.00 7.90 percent [+]
Inflation Rate Mom 0.49 0.91 2.25 -1.55 percent [+]
Cpi Housing Utilities 151.60 150.60 151.60 100.30 Index Points [+]
CPI Transportation 125.80 125.60 126.90 103.20 Index Points [+]


India Wholesale Price Index Change

In India, the wholesale price index (WPI) is the main measure of inflation. The WPI measures the price of a representative basket of wholesale goods. In India, wholesale price index is divided into three groups: Fuel and Power (13.2 percent), Primary Articles (22.6 percent of total weight) and Manufactured Products (654.2 percent). Food Articles from the Primary Articles Group account for 15.2 percent of the total weight. The most important components of the Manufactured Products Group are Basic Metals (9.7 percent of total weight); Food products (9.1 percent); Chemicals and Chemical products (6.5 percent) and Textiles (4.9 percent). . This page provides the latest reported value for - India Wholesale Price Index Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Wholesale Price Index Change - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.08 2.02 34.68 -11.31 1969 - 2019 percent Monthly




Country Last Previous
Argentina 52.40 Jul/19
Australia 2.00 Jun/19
Brazil 6.50 Jul/19
Canada -1.70 Jul/19
China -0.80 Aug/19
Euro Area 0.20 Jul/19
France 0.00 Jul/19
Germany 1.10 Jul/19
India 1.08 Jul/19
Indonesia 0.90 Aug/19
Italy -0.50 Jul/19
Japan -0.90 Aug/19
Mexico 3.38 Jul/19
Netherlands 0.19 Jul/19
Russia 1.10 Jul/19
Saudi Arabia 2.70 Jul/19
Singapore -6.00 Jul/19
South Africa 4.90 Jul/19
South Korea -0.30 Jul/19
Spain -0.80 Jul/19
Switzerland -1.90 Aug/19
Turkey 13.45 Aug/19
United Kingdom 1.80 Jul/19
United States 1.80 Aug/19


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