India's provisional Wholesale Price Index inflation rate rose to 11.39% year on year in September 2026 from 9.92% in August, according to the Department for Promotion of Industry and Internal Trade. The all-commodities index increased to 112.5 from 110.8 a month earlier.
The release uses the 2022–23 base year and also includes trial producer-price measures. September's estimate was compiled with a weighted response rate of 83.4%, meaning it remains subject to revision as additional data arrive.
Fuel and power recorded the fastest increase
Fuel and power prices were 25.85% higher than a year earlier, compared with 22.93% in August. The group's index rose to 110.5 from 108.3 during the month.
Primary-article inflation increased to 8.67% from 7.76%, while manufactured-product inflation reached 9.76% from 8.37%. Their September indices stood at 120.3 and 110.2 respectively.
The simultaneous acceleration across all three major groups points to broad wholesale-price pressure rather than a move confined to a single category. The effect on individual companies will still depend on their input mix, contract structure and ability to pass costs to customers.
Wholesale inflation is not retail inflation
WPI tracks prices at the wholesale or producer stage and gives a high weight to goods. It should not be read as the inflation rate directly faced by households, which is measured separately through the Consumer Price Index.
For corporate planning, WPI components can provide a useful benchmark for procurement and pricing discussions. They do not show margins, because selling prices, productivity, hedging and inventory positions also matter.
The data remain provisional
The department kept July's final all-commodities index unchanged at 110.0, with final inflation of 9.78%. The July result was based on a 98.97% weighted response rate, higher than September's provisional coverage.
The next WPI, Output Producer Price Index and trial Input Producer Price Index release, covering October, is scheduled for 16 November 2026. Revisions may alter the detailed September readings before they become final.
Key numbers
- September WPI inflation: 11.39%
- August WPI inflation: 9.92%
- Fuel and power inflation: 25.85%
- Manufactured-products inflation: 9.76%
- Primary-articles inflation: 8.67%
What boards and CFOs should note
- Which purchase contracts reset against wholesale-price or commodity benchmarks?
- How much of higher fuel and material cost can be offset through pricing or productivity?
- Do provisional response rates justify sensitivity ranges in forecasts?
Source: DPIIT via PIB, 14 October 2026. This is a summary of an official release, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
