Summary:
India's wholesale price inflation rose to 11.39% in September 2026 from 9.92% in August, according to the supplied figures. Higher fuel, food and manufactured-product prices contributed to the increase, raising concerns about input costs, corporate margins and broader inflationary pressures.
What was India's wholesale inflation rate in September 2026?
Inflation, as measured by India’s Wholesale Price Index (WPI), rose to 11.39% in September 2026 from 9.92% in August, its highest level in the ongoing 2022-23 base-year series. The increase was ascribed to increasing fuel prices, food prices and manufactured product prices, according to data released by the Ministry of Commerce and Industry on October 14, 2026. The rise is reflective of rising cost pressures in a number of sectors of Indian economy.
Wholesale Inflation Hits Series High
Wholesale inflation rose 1.47 percentage points in September from August. The WPI index as a whole went up to 112.5 from 110.8 in the previous month.
The key inflation figures are:
| Category | September 2026 | August 2026 |
| WPI Inflation (Overall) | 11.39% | 9.92% |
| Fuel & Power | 25.85% | 22.93% |
| Manufactured Goods | 9.76% | 8.37% |
| Primary Articles | 8.67% | 7.76% |
| WPI Food Index | 8.66% | 7.05% |
Inflation rose in all the main categories, the data shows. The largest annual price increases were for the fuel and power group, followed by manufactured products and primary articles.
Wholesale inflation was at an average of 9.85% in April-September 2026 as against -0.20% in the same period last year. This points to a sharp increase in wholesale price inflation in the first half of FY27.
Food, Fuel Prices Go Up Inflationary Drive
Fuel and power inflation was at 25.85% in September as against 22.93% in August. The increase was driven by higher prices of petroleum products, crude oil, natural gas and coal.
Prices of several categories of food items rose, leading to the WPI Food Index jumping to 8.66% from 7.05%.
Vegetables, fruits, pulses and edible oils drove food price pressures. Wholesale prices have also been affected by supply disruptions and higher transportation costs.
Inflation in manufactured products rose to 9.76% in September from 8.37% in August. Higher prices were noted in the basic metals, chemicals, textiles, rubber, plastic products and electrical equipment categories.
Retail Inflation Climbs to 5.54% Too
The rise in wholesale prices comes as consumer inflation is rising. India’s Consumer Price Index (CPI) inflation climbed to 5.54% in September 2026 from 4.83% in August, the highest in 23 months.
The increase was partly due to rising vegetable prices as well as rising household expenses. Retail inflation continues to lag wholesale inflation, partly because changes in producer costs are not always immediately passed on to consumers.
Amid growing concerns about inflation, the Reserve Bank of India (RBI) increased the benchmark repo rate by 25 basis points to 5.50% in October 2026.
What Higher WPI Inflation Means for Businesses
Higher wholesale inflation can impact the cost of production for companies that are high on fuel, metals, chemicals and agricultural commodities.
“If input costs continue to rise, then we could see some pressure on operating margins for manufacturing, FMCG, automobiles and logistics businesses.
Companies can pass on higher costs to consumers to protect profitability, but price hikes could impact demand.
The September WPI reading points to sustained inflationary pressure on food, energy and industrial products for the Indian economy.
Wholesale inflation over the next few months will continue to be important in determining crude oil prices and the cost of agricultural and manufacturing inputs.
