India July 2026 WPI Inflation at 9.78% YoY

India Wholesale Price Index July 2026

The Ministry of Commerce & Industry released the provisional estimates of the Wholesale Price Index (Base Year 2022-23) for July 2026, showing a year-on-year inflation rate of 9.78%, slightly lower than the 9.87% recorded in June 2026. The index for All Commodities stood at 110.0 in July, compared to 110.2 in the previous month.

Major Group Analysis

Inflation across major groups showed divergent trends. Primary Articles inflation increased to 8.52% in July (from 7.0% in June) with the index rising to 117.2. Fuel and Power inflation declined significantly to 20.05% (from 27.41% in June) as the index dropped to 105.4 from 111.1. Manufactured Products inflation rose to 8.29% (from 7.48%) with the index increasing to 108.4 from 107.8.

The key drivers of WPI inflation in July 2026 were 'Mineral Oils (containing Petroleum Products)', 'Food Articles', 'Manufacture of Basic Metals', 'Non-Food Articles', 'Manufacture of Food Products', and 'Manufacture of Chemicals and Chemical Products'.

Food Index Performance

The WPI Food Index (weight=24.99%) recorded a YoY inflation of 6.65% in July 2026, up from 6.14% in June 2026. The index comprises 'Food Articles' from the Primary Articles group and 'Manufacture of Food Products' from the Manufactured Products group.

Data Revisions and Methodology

The final index for May 2026 was revised upward from 109.9 (provisional) to 110.1, corresponding to a revised inflation rate of 9.88% from the previously reported 9.68%. The final estimate for May was compiled with a weighted response rate of 98.14%, while the provisional estimate for July was compiled with a weighted response rate of 78.55%.

Output Producer Price Index

The provisional Output Producer Price Index for All Commodities remained unchanged at 109.9 in July 2026 compared to June. Output PPIs for major sectors showed Agriculture, Forestry and Fishing at 115.6 (up from 114.1), Mining and Quarrying at 119.4 (down from 121.5), Manufactured Products at 108.8 (down from 109.2), and Electricity at 92.4 (up from 92.0). The final Output PPI for May 2026 was revised upward from 109.6 to 109.9.

Trial Input Producer Price Index

The trial Input PPI for the Manufacturing Sector stood at 105.9 in July 2026 (provisional), down from 107.1 in June. The May 2026 figure was revised significantly from 104.9 (provisional) to 106.5 (final).

Release Schedule

Provisional indices of WPI, OPPI, and trial IPPI are released on the 14th of the following month (or next working day). The release for August 2026 is scheduled for Monday, 14th September 2026.