WPI Inflation July 2026: Wholesale Inflation Falls To 9.78% As Fuel, Food Prices Ease

I dia’s
wholesale
i flatio
showed
its
fi st
mo th-o -mo th
decli e
u de
the
latest
Wholesale
P ice
I dex
(WPI)
se ies
i
July,
offe i g
some
elief
afte
p ices
had
climbed
th ough
the
ope i g
mo ths
of
the
fi a cial
yea .

WPI-based
i flatio
eased
to
9.78
pe
ce t
i
July
2026,
f om
9.87
pe
ce t
i
Ju e,
acco di g
to
data
eleased
by
the
Comme ce
a d
I dust y
Mi ist y
o
F iday.
The
mode atio
was
la gely
suppo ted
by
softe
i flatio
i
fuel
a d
powe
a d
food
a ticles.

The
latest
eadi g
ma ks
the
fi st
mo th-o -mo th
decli e
si ce
the
gove me t
i t oduced
the
WPI
se ies
with
the
ew
2022-23
base
yea .

Fuel
A d
Food
P ices
Offe
Some
Relief

The
mode atio
i
wholesale
i flatio
was
led
by
a
cooli g
i
two
majo
compo e ts
of
the
i dex.

I flatio
i
fuel
a d
powe
decli ed
sha ply
to
20.05
pe
ce t
i
July,
compa ed
with
27.41
pe
ce t
i
Ju e.
Food
a ticle
i flatio
also
eased,
though
o ly
ma gi ally,
to
5.44
pe
ce t
f om
5.49
pe
ce t
du i g
the
same
pe iod.

The
decli e
comes
afte
wholesale
p ices
had
bee
isi g
si ce
the
begi i g
of
the
fi a cial
yea .
The
Comme ce
a d
I dust y
Mi ist y
att ibuted
the
b oade
p essu e
to
developme ts
i
global
e e gy
a d
commodity
ma kets.

The
West
Asia
co flict
a d
the
esulti g
dis uptio
a ou d
the
St ait
of
Ho muz
had
pushed
up
global
c ude
oil
a d
fe tilise
costs,
with
the
i c ease
eve tually
feedi g
i to
food
p ices.

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O
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Ma ufactu i g
P ices
Move
I
The
Opposite
Di ectio

The
mode atio
i
the
headli e
WPI
umbe
was
ot
b oad-based
ac oss
all
catego ies.

I flatio
i
ma ufactu ed
p oducts
i c eased
to
8.29
pe
ce t
i
July,
compa ed
with
7.48
pe
ce t
i
Ju e.

The
Comme ce
a d
I dust y
Mi ist y
ide tified
seve al
compo e ts
as
key
d ive s
of
wholesale
i flatio
du i g
the
mo th,
i cludi g
mi e al
oils
co tai i g
pet oleum
p oducts,
food
a ticles,
basic
metals,
o -food
a ticles,
ma ufactu ed
food
p oducts,
a d
chemicals
a d
chemical
p oducts.

This
dive ge ce
betwee
lowe
fuel
a d
food
i flatio
a d
highe
ma ufactu ed-p oduct
i flatio
mea t
that
the
ove all
decli e
i
WPI
emai ed
limited.

Retail
I flatio
Had
Moved
Highe
I
July

The
wholesale
i flatio
eadi g
comes
afte
the
latest
etail
i flatio
data
showed
a
diffe e t
t e d.

Data
eleased
ea lie
this
week
showed
that
I dia’s
Co sume
P ice
I dex
(CPI)-based
etail
i flatio
i c eased
to
4.45
pe
ce t
i
July,
f om
4.38
pe
ce t
i
Ju e,
with
highe
food
p ices
co t ibuti g
to
the
i c ease.

The
two
i flatio
measu es
t ack
p ices
at
diffe e t
stages
of
the
eco omy.
The
WPI
la gely
eflects
p ice
moveme ts
at
the
wholesale
level,
while
CPI
i flatio
captu es
p ices
faced
by
co sume s.

The
July
WPI
data
the efo e
p ovides
a
mixed
pictu e
of
p ice
p essu es,
with
wholesale
i flatio
easi g
slightly
eve
as
etail
i flatio
moved
highe .

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RBI
Keeps
Rates
U cha ged

The
i flatio
umbe s
also
come
agai st
the
backd op
of
the
Rese ve
Ba k
of
I dia’s
latest
mo eta y
policy
decisio .

Ea lie
this
mo th,
the
RBI’s
Mo eta y
Policy
Committee
kept
the
be chma k
policy
ate
u cha ged
at
5.25
pe
ce t.
The
ce t al
ba k
p ojected
etail
i flatio
at
5
pe
ce t
fo
FY27,
citi g
a
u eve
a d
deficie t
south-west
mo soo
alo g
with
El
Ni& tilde;o
co ditio s.

The
WPI
figu es
will
the efo e
be
closely
watched
alo gside
etail
i flatio
a d
developme ts
i
global
commodity
ma kets
as
policymake s
assess
the
t ajecto y
of
p ice
p essu es.

Fo
July,
the
headli e
wholesale
i flatio
umbe
poi ts
to
a
ma gi al
easi g,
helped
by
softe
fuel
a d
food
p ices.
Howeve ,
the
ise
i
ma ufactu ed-p oduct
i flatio
a d
co ti ui g
global
commodity
u ce tai ties
suggest
that
p ice
p essu es
ac oss
diffe e t
pa ts
of
the
eco omy
emai
u eve .

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