Wholesale inflation rises to 11.39% in September on higher fuel, manufacturing costs

Wholesale price inflation accelerated to 11.39% in September from 9.92% in August, according to government data released on Wednesday.

The wholesale price index rose to 112.5 in September from 110.8 in August, the data showed.

Inflation in fuel and power rose to 25.85% in September from 22.93% in August, while inflation in manufactured products increased to 9.76% from 8.37%.

Inflation in primary articles, which include food and non-food items and minerals, climbed to 8.67% from 7.76% in the previous month.

Food inflation, measured by the WPI Food Index, increased to 8.66% in September from 7.05% in August.

The Food Index, which has a weight of 24.99% in the WPI, comprises food articles under the primary articles category and manufactured food products.

Across groups, mineral oils (containing petroleum products), food articles, crude petroleum & natural gas, coal and lignite, manufacture of basic metals, chemicals and chemical products, textiles, rubber and plastic products and electrical equipments have been drivers of WPI inflation in September 2026, the Commerce and Industry ministry said.

The final wholesale price index for July remained unchanged at 110.0, with the annual inflation rate retained at 9.78%, the ministry said.

The WPI has been on an upward trajectory since the beginning of this fiscal year as the West Asia war and the resultant blockade of the Strait of Hormuz pushed up global crude and fertiliser costs, with a spillover effect on food and commodity prices.

The Reserve Bank of India's monetary policy committee last week hiked benchmark policy rates by 25 bps to 5.50%.

Retail inflation data released earlier this week showed inflation rose to a 23-month high of 5.54% in September, from 4.83% in August, driven by a sharp rise in food prices.