Wholesale inflation rises to 11.39% in September on jump in fuel, food, manufactured products prices

New Delhi: India's wholesale price inflation accelerated to 11.39% in September 2026 from 9.92% in August, driven by higher prices across fuel and power, food articles and manufactured products, according to provisional data from commerce and industry ministry on Wednesday.

The food index, comprising food articles under primary articles and manufactured food products, rose to 8.66% in September, compared with 7.05% in August.

Inflation in primary articles climbed to 8.67% from 7.76% during the same period. Within primary articles, food articles inflation rose to 8.14% from 5.67% in August.

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

However, inflation in non-food articles moderated to 10.28% from 14.79%, while minerals inflation increased to 9.51% from 8.24%.

Mineral oils, which include petroleum products, recorded an increase to 40.02% in September from 38.48% in August. Inflation in crude petroleum and natural gas rose sharply to 57.32% from 34.41%, while coal and lignite inflation increased to 9.31% from 1.57% during the same period.

Electricity recorded negative inflation of minus 0.43% in September, down from minus 1.73% in August.

According to the ministry, mineral oils, food articles, crude petroleum and natural gas, coal and lignite, basic metals, chemicals and chemical products, textiles, rubber and plastic products, and electrical equipment were among the drivers of wholesale inflation in September.

Within manufactured products, basic metals inflation increased to 16.96% from 10.88% in August, while inflation in chemicals and chemical products rose to 16.74% from 14.30%.

Textile inflation increased to 13.85% from 12.63%, while rubber and plastic products recorded inflation of 13.47%, compared with 11.18% in August. Inflation in electrical equipment increased to 11.93% from 11.11%.

The overall Wholesale Price Index (WPI), which uses 2022-23 as its base year, increased to 112.5 in September from 110.8 in August. The primary articles index rose to 120.3 from 118.1, while the fuel and power index increased to 110.5 from 108.3.

For April-September, cumulative wholesale inflation stood at 9.85%, compared with minus 0.20% in the corresponding period a year ago.

The government also retained the final wholesale inflation rate for July 2026 at 9.78%, unchanged from the provisional estimate. The final WPI index for July remained unchanged at 110.0.

The provisional September index was compiled with a weighted response rate of 83.4%, compared with 98.97% for the final July index.

The Output Producer Price Index (PPI) for all commodities increased to 112.5 in September from 110.8 in August. The Output PPI for mining and quarrying increased to 129.2 from 122.0, while that for manufactured products rose to 111.0 from 109.7.

Meanwhile, India’s retail inflation rose to a 23-month high of 5.54% in September, remaining above the Reserve Bank of India’s 4% midpoint target for a fourth consecutive month as higher food prices, elevated commodity costs and an unfavourable base effect fuelled price pressures.

Harsh Kumar is a policy reporter at Mint (HT Media Group), where he covers the Ministry of Commerce and Industry along with key departments of the Ministry of Finance, including the Department of Economic Affairs (DEA) and the Department of Financial Services (DFS). With over five years of experience in business and economic journalism, he has developed strong expertise in tracking policy developments and their wider economic impact.<br><br>He has previously worked with Business Standard, Moneycontrol, and Outlook Money, where he reported extensively on banking, financial services, and the broader economy. Over the years, he has built a reputation for delivering accurate, insightful, and impactful stories, supported by a keen eye for detail and a consistent track record of breaking exclusive news.<br><br>An alumnus of Jamia Millia Islamia, Harsh closely follows regulatory changes and key economic trends shaping India’s financial and industrial landscape. His reporting aims to simplify complex policy issues for a wider audience while maintaining depth and credibility.<br><br>Outside of work, he enjoys tracking policy developments, finding scoops, and travelling, reflecting his curiosity about how economic decisions shape everyday life.

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