India WPI Inflation Hits Series High at 11.39% in September 2026

India’s wholesale price inflation rose to 11.39% year on year in September 2026, from 9.92% in August, according to provisional estimates released by the Office of the Economic Adviser (OEA), part of the Department for Promotion of Industry and Internal Trade, on 14 October. It is the highest reading in the current 2022–23-base WPI series. For households and businesses, the rise signals wider cost pressure across goods, but it does not mean consumer prices or household bills rose by the same amount.

What the September data show

Inflation accelerated across all three major WPI groups. Fuel and power inflation rose to 25.85% from 22.93% in August; primary-article inflation increased to 8.67% from 7.76%; and inflation in manufactured products reached 9.76%, up from 8.37%. The WPI Food Index, which combines food articles with manufactured food products, rose to 8.66% from 7.05%.

The all-commodities index moved to 112.5 in September from 110.8 in August, a month-on-month increase of about 1.5%. The OEA listed mineral oils, food articles, crude petroleum and natural gas, coal and lignite, basic metals, chemicals, textiles, rubber and plastic products, and electrical equipment among the drivers of September WPI inflation. The list identifies areas of price pressure; the release does not assign a quantified contribution to each of these item-level drivers.

Why the series-high label needs context

The OEA introduced the WPI series with a 2022–23 base year in June 2026, replacing the 2011–12 series. Its published back-series data begin in April 2023. The September figure is therefore a high in the current series, not an all-time record across every historical WPI series. The OEA also advises users to exercise caution when comparing the old and new series because the basket, weights and calculation methods changed.

What it may mean for consumers and businesses

WPI tracks wholesale prices, so higher fuel, food and manufacturing costs can raise procurement and production expenses for businesses. Some firms may absorb those costs, while others may pass some of them on; the extent and timing depend on their inputs, pricing power, contracts and demand. WPI is not a direct measure of the prices households pay, and it cannot by itself show how much of the increase will reach retail prices. It also does not automatically change a borrower’s EMI or a saver’s deposit rate.

September’s WPI estimate is provisional and was compiled with a weighted response rate of 83.4%, so it may be revised. The government’s next scheduled release, for October 2026, is 16 November.

Sources and links

• Office of the Economic Adviser — September 2026 provisional WPI release, supporting the headline and group inflation rates, index levels, listed drivers, response rate and next release date
• Office of the Economic Adviser — 2022–23-base WPI data page, showing monthly series data from April 2023 onward
• PIB — announcement of the 2022–23-base series, its replacement of the 2011–12 series and the caution on comparisons; posted 15 June 2026
• The Hindu — T.C.A. Sharad Raghavan’s report on the new-series high and cost pressures; published 14 October 2026 at 1:14 pm IST, updated at 5:21 pm IST
• Financial Express — Khushboo Kumari’s report confirming September’s 11.39% reading and movement across major WPI groups; published 14 October 2026 at 1:00 pm IST