India’s Wholesale Inflation Rises to 8.3%

India’s Wholesale Price Index (WPI) inflation rose to 8.3% in April 2026, the highest level in 42 months. The Ministry of Commerce and Industry released the WPI data on 14 May 2026, and the April figure was higher than 3.88% in March 2026.

Wholesale Price Index

The Wholesale Price Index measures the average change in prices of goods at the wholesale level in India. WPI inflation is used to track price movements in primary articles, fuel and power, and manufactured products.

Drivers of April 2026 Inflation

Fuel and power inflation rose to 24.71% in April 2026 from 1.05% in March 2026. Crude petroleum and natural gas inflation reached 67.2%, while mineral oils also recorded higher prices during the month.

Manufactured Products and Consumer Prices

Inflation in manufactured products increased to 4.62% in April 2026 from 3.39% in March 2026. The rise affected chemicals, textiles, machinery, and basic metals, which are major components of the manufacturing basket. Retail inflation, measured by the Consumer Price Index (CPI), stood at 3.48% in April 2026 and remained below the Reserve Bank of India’s 4% comfort target. The rupee averaged 93.6 per US dollar in April 2026, compared with 92.8 in March 2026.

Important Facts for Exams

• WPI inflation is a wholesale-level price index used in India for tracking price changes in goods.
• The Reserve Bank of India uses CPI inflation for its formal inflation-targeting framework.
• Fuel and power is one of the major WPI groups in India.
• Manufactured products include chemicals, textiles, machinery, and basic metals in the WPI basket.

External Price Pressures

Crude petroleum and natural gas prices were affected by energy market volatility and the Middle East conflict. Capital outflows and higher crude prices also coincided with weakness in the Indian rupee during April 2026.