India July 2026 WPI Inflation at 9.78%

India's Wholesale Price Index July 2026 Update

The Ministry of Commerce & Industry released provisional estimates of the Wholesale Price Index (Base Year 2022-23) for July 2026, showing a slight moderation in wholesale inflation. The All India Wholesale Price Index inflation stood at 9.78% on a year-on-year basis in July 2026, compared to 9.87% in June 2026. The index for All Commodities decreased marginally to 110.0 in July from 110.2 in June.

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 from 116.1. Fuel and Power inflation declined significantly to 20.05% from 27.41%, with the index dropping 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 WPI Food Index (weight 24.99%) observed YoY inflation of 6.65% in July 2026, up from 6.14% in June 2026. Major drivers of WPI inflation in July included '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'.

Data Revisions and Methodology

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

Cumulative Performance

Cumulative WPI for All Commodities from April to July 2026-27 stood at 109.8, showing significant increase compared to previous years (100.3 in FY 2025-26, 100.5 in FY 2024-25, and 98.8 in FY 2023-24). Cumulative YoY inflation rate for April-July 2026-27 was 9.47% for All Commodities.

Additional Index Releases

The document also includes provisional estimates of Output Producer Price Index (OPPI) and trial Input Producer Price Index (IPPI). The All India Output PPI for All Commodities stood at 109.9 in July 2026, unchanged from June. The trial Input PPI for Manufacturing Sector stood at 105.9 for July 2026 (provisional estimate), with the May 2026 figure revised upward from 104.9 to 106.5.

Data Availability and Future Releases

Item-wise data for WPI series from April 2023 to July 2026 is available at https://eaindustry.nic.in/downloaddata2223.asp. Provisional indices are typically released on the 14th of the following month, with the next release for August 2026 scheduled for September 14, 2026.