India's wholesale price inflation climbed to 9.87 per cent in June 2026 on a year-on-year basis, according to data released by the Ministry of Commerce and Industry on Tuesday, 14 July. The Wholesale Price Index (WPI) for all commodities rose to 110.2 in June, up from 9.68 per cent recorded in May, marking a further acceleration in producer-level price pressures.

Key Developments in June WPI Data

Among the major commodity groups, fuel and power inflation stood at 27.41 per cent, moderating from earlier highs but remaining the dominant driver of wholesale price pressure. Primary articles inflation rose to 7 per cent, while manufactured products inflation held steady at 7.48 per cent.

Within the fuel basket, mineral oils recorded a sharp 46.48 per cent year-on-year inflation, while crude petroleum and natural gas posted 34.75 per cent inflation in June — figures that underscore the outsized role of global energy prices in India's wholesale price trajectory.

Food Prices and Primary Articles

The WPI Food Index — which combines food articles and manufactured food products — registered an annual inflation rate of 6.14 per cent in June. Within primary articles, food articles recorded inflation of 5.49 per cent, while non-food articles posted a notably higher 11.07 per cent, reflecting stress in raw material categories such as oilseeds and fibres.

This comes amid persistent retail food inflation concerns tracked separately under the Consumer Price Index (CPI), suggesting that upstream price pressures in non-food primary articles could filter through to consumer goods in the months ahead.

April Data Revised Upward

The Ministry of Commerce and Industry also revised the final WPI inflation figure for April 2026 upward to 8.36 per cent from the provisional estimate of 8.26 per cent. The revised WPI index for April stood at 108.9, compared with the provisional estimate of 108.8. The April final estimate was compiled with a 97.5 per cent weighted response rate, against the June provisional figure's 82.6 per cent response rate.

New Base Year and Producer Price Indices

Notably, the June data is the second release under the government's revised WPI series with 2022-23 as the new base year, which replaced the earlier 2011-12 base year series launched in June. This overhaul is part of a broader effort to modernise producer price measurement in India.

Alongside WPI, the government has also released new series for the Output Producer Price Index (OPPI), the Input Producer Price Index (IPPI), and the Services Producer Price Index (SPPI) for seven services. The All India OPPI for all commodities stood at 109.9 in June, while the provisional trial IPPI for the manufacturing sector was 107.1. The final IPPI for April was revised to 104.2 from the provisional estimate of 104.9.

What Comes Next

The next provisional WPI data for July 2026 is scheduled for release on 14 August, according to the ministry. Analysts will watch whether the upward trend in wholesale inflation persists, particularly as global crude oil prices and non-food commodity costs remain elevated. A sustained rise in WPI could eventually translate into higher input costs for manufacturers, adding to margin pressure across industry.