India Wholesale Inflation Below Forecasts

2026-08-14 06:44 By Chusnul Chotimah 1 min. read

India’s wholesale prices increased 9.78% yoy in July 2026, slowing from a 9.87% gain in June, which was the fastest increase since September 2022 and below expectations of 9.95%.

It was the softest increase since April, due to softer rises in fuel prices.

The data are based on the new 2022–23 base year, replacing the earlier 2011–12 series.

Fuel prices moderated (20.05% vs 27.41% in June), mainly driven by softer increases in mineral oil prices (32.4% vs 46.48%) and crude petroleum and natural gas prices (26.99% vs 34.75%).

Meanwhile, food inflation accelerated slightly to 6.65% from 6.14% in June, as food article prices remained broadly elevated (5.44% vs 5.49% in June), while non-food article prices accelerated strongly (17.66% vs 11.07%).

Also, manufacturing inflation accelerated to 8.29% from 7.48%, the fastest pace since June 2022, led by tobacco products (13.36%), chemicals and chemical products (13.12%), basic metals (12.56%), textiles (12.80%), and rubber & plastics (10.38%).



News Stream
India Wholesale Inflation Below Forecasts
India’s wholesale prices increased 9.78% yoy in July 2026, slowing from a 9.87% gain in June, which was the fastest increase since September 2022 and below expectations of 9.95%. It was the softest increase since April, due to softer rises in fuel prices. The data are based on the new 2022–23 base year, replacing the earlier 2011–12 series. Fuel prices moderated (20.05% vs 27.41% in June), mainly driven by softer increases in mineral oil prices (32.4% vs 46.48%) and crude petroleum and natural gas prices (26.99% vs 34.75%). Meanwhile, food inflation accelerated slightly to 6.65% from 6.14% in June, as food article prices remained broadly elevated (5.44% vs 5.49% in June), while non-food article prices accelerated strongly (17.66% vs 11.07%). Also, manufacturing inflation accelerated to 8.29% from 7.48%, the fastest pace since June 2022, led by tobacco products (13.36%), chemicals and chemical products (13.12%), basic metals (12.56%), textiles (12.80%), and rubber & plastics (10.38%).
2026-08-14
India Wholesale Inflation Hits Highest Since 2022
India’s wholesale prices rose 9.87% yoy in June 2026, accelerating from a 9.68% gain in May and surpassing expectations of 9.15%. It was the fastest increase since September 2022, mainly driven by faster increases in food prices and a surge in fuel prices, while manufacturing prices also increased. The data are based on the new 2022–23 base year, replacing the earlier 2011–12 series. Fuel prices surged 27.41%, driven by a sharp rise in mineral oil prices (46.48%) and crude petroleum and natural gas prices (34.74%). Food inflation accelerated to 6.14% from 5.68% in May, marking the fastest increase since February 2025, with faster rises in both food articles (5.49% vs 3.60% in May) and non-food articles (11.07% vs 9.49%). Meanwhile, manufacturing inflation held steady at 7.48%, remaining at its fastest pace since August 2022, led by tobacco products (14.14% vs 13.59%), chemicals and chemical products (12.78% vs 13.40%), basic metals (12.31% vs 12.30%), and textiles (10.85% vs 10.22%).
2026-07-14
India Wholesale Inflation Nears 4-Year High
India’s wholesale prices advanced 9.68% year-on-year in May 2026, accelerating from a marginally revised 8.26% rise in April and surpassing expectations of 9.1%. This marked the fastest growth since September 2022, with manufacturing prices increasing at the fastest pace since August 2022, food prices rising at the fastest pace in 14 months, and fuel prices advancing at the fastest rate since September 2022 due to the impact of the Middle East crisis. Fuel prices surged 30.33%, driven by a sharp rise in mineral oil prices (49.82%) and crude petroleum & natural gas prices (61.51%). Meanwhile, manufacturing inflation accelerated to 7.48% from an upwardly revised 6.68%, led by tobacco products (13.59% vs 13.63% in April), chemicals and chemical products (13.40% vs 5.09%), basic metals (12.30% vs 10.59%), textiles (10.22% vs 7.30%), and food products (6.14% vs 4.53%). Food inflation also accelerated to a 14-month high of 4.49%.
2026-06-15