According to final data released by the government on Friday—with 2022-23 as the base year—India’s Wholesale Price Index (WPI)-based inflation rate stood at 9.78 percent in July 2026, showing a slight easing from the 9.87 percent recorded in the previous month, June. In other words, while there has been a marginal decline in wholesale inflation, it remains at an elevated level.
The Ministry of Commerce and Industry reported that the Wholesale Price Index for all commodities stood at 110.0 in July, compared to 110.2 in June 2026. Although a slight dip was observed in the overall index, price pressures persisted across several key categories. During July, the inflation rate for ‘primary articles’ was recorded at 8.52 percent, up from 7.00 percent in June. Similarly, inflation for manufactured products rose to 8.29 percent from 7.48 percent in June. On the other hand, the inflation rate in the ‘fuel and power’ category declined from 27.41 percent in June to 20.05 percent, though it still remains significantly high.
In July, the indices for primary articles, fuel and power, and manufactured products were recorded at 117.2, 105.4, and 108.4, respectively; the corresponding figures for June were 116.1, 111.1, and 107.8. According to government data, key factors driving wholesale inflation in July included mineral oils (petroleum products), food items, basic metals, non-food primary products, manufactured food products, and chemicals and chemical products. Price increases in these sectors impacted the overall wholesale inflation rate.
Notably, inflation within the WPI Food Index has risen. Food inflation stood at 6.65 percent in July 2026, compared to 6.14 percent in June 2026. This indicates that price pressures on food items persist. The ministry has also revised the data for May 2026; the final Wholesale Price Index (WPI) for May was adjusted from the provisional estimate of 109.9 to 110.1, resulting in the WPI inflation rate for May rising from 9.68 percent to 9.88 percent.
The government stated that the final figures for May 2026 were prepared based on a weighted response rate of 98.14 percent, thereby enhancing the accuracy and reliability of the data. Additionally, the final figure for the Output Producer Price Index (PPI) for May 2026 has also been revised.
This figure rose from the provisional estimate of 109.6 to 109.9. Meanwhile, the All-India Input Producer Price Index (PPI) for the manufacturing sector was recorded at 105.9 in July 2026. The final Input PPI figure for May 2026 was also revised from the provisional estimate of 104.9 to 106.5 (final index).
