WPI inflation rises to 11.39% in September 2026, led by fuel and food
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UPSC has already asked about this. Read the story with these questions in mind.
Wholesale Price Index inflation (base 2022-23) rose to 11.39% in September 2026, provisional, from 9.92% in August. Fuel and Power led at 25.85%, with mineral oils at 40.02%. Primary Articles rose 8.67%, Manufactured Products 9.76% and the WPI Food Index 8.66%. July’s final figure stayed at 9.78%.
- WPI, Sep 2026
- 11.39% (Aug: 9.92%)
- Fuel and power
- 25.85%
- Food articles
- 8.14%
- Base year
- 2022-23
WPI inflation: what happened?
Wholesale prices are what producers and traders pay in bulk. When they rise fast, retail prices usually follow with a lag. September’s jump came mainly from fuel: mineral oils and crude petroleum and natural gas.
- All-India WPI inflation (base 2022-23) was 11.39% in September 2026 (provisional), up from 9.92% in August 2026; the all-commodities index rose to 112.5 from 110.8.
- Fuel and Power inflation was 25.85%, Primary Articles 8.67% and Manufactured Products 9.76%. The WPI Food Index rose 8.66%.
- July 2026 final WPI inflation stayed at 9.78%. October data come on 16 November 2026.
What is WPI and how is it released?
- The Wholesale Price Index tracks bulk prices of goods in three major groups: Primary Articles, Fuel and Power, and Manufactured Products.
- The current series has base year 2022-23.
- Provisional WPI, the Output Producer Price Index and a trial Input Producer Price Index are released on the 14th of the following month, or the next working day.
- The provisional index is revised to a final figure after more price returns come in; September’s weighted response rate was 83.4%, July’s final one 98.97%.
How heavy is each group?
| Major group | Weight (rounded) | Sep 2026 inflation |
|---|---|---|
| Primary Articles | 22.76 | 8.67% |
| of which Food Articles | 15.98 | 8.14% |
| Fuel and Power | 14.11 | 25.85% |
| of which Mineral Oils | 8.19 | 40.02% |
| Manufactured Products | 63.13 | 9.76% |
| WPI Food Index | 24.99 | 8.66% |
How has WPI inflation moved since April 2026?
| Month | Inflation | Status |
|---|---|---|
| April 2026 | 8.36% | Final |
| May 2026 | 9.88% | Final |
| June 2026 | 9.97% | Final |
| July 2026 | 9.78% | Final |
| August 2026 | 9.92% | Provisional |
| September 2026 | 11.39% | Provisional |
Which items pushed prices up in September?
| Group | Inflation |
|---|---|
| Crude Petroleum and Natural Gas | 57.32% |
| Mineral Oils | 40.02% |
| Coal and Lignite | 9.31% |
| Food Articles | 8.14% |
| Manufacture of Food Products | 9.44% |
| Electricity | -0.43% |
Why does WPI inflation matter?
| Angle | What to note |
|---|---|
| Monetary policy | Double-digit wholesale inflation is a warning sign for future retail inflation. |
| Industry | Fuel and basic metals costs feed into manufacturing inputs. |
| Households | Food Index at 8.66% means kitchen budgets are under strain. |
| Fiscal | High mineral oil prices raise pressure on fuel taxes and subsidies. |
| Data | OPPI and trial IPPI sit alongside WPI as India moves toward producer price indices. |
What are the challenges in WPI inflation?
- Fuel drives the spike: mineral oils at 40.02% and crude at 57.32% make WPI hostage to global oil prices.
- Food articles inflation climbed from 2.61% in April to 8.14% in September.
- September is provisional with an 83.4% response rate; revisions can move the number.
- Electricity prices fell (-0.43%), so the fuel group is not uniform; averages hide this.
What should be done next on WPI inflation?
- Watch whether the wholesale surge passes into retail prices in the coming months.
- Track the October WPI on 16 November 2026 to see if fuel prices ease.
- Use buffer stocks and trade measures for food items that show sharp rises.
- Read WPI with OPPI and IPPI to separate input-cost pressure from output prices.
What can Prelims ask on WPI inflation?
- WPI base year 2022-23; three major groups.
- September 2026 WPI inflation 11.39% (P); August 9.92%; July final 9.78%.
- Fuel and Power 25.85%; Primary 8.67%; Manufactured 9.76%; Food Index 8.66%.
- Weights: Manufactured Products about 63.13 (largest); Food Index 24.99.
- Release on the 14th of the next month; next on 16 November 2026.
- OPPI and trial IPPI released with WPI.
How to write about WPI inflation in Mains
Practice question (10 marks, 150 words): “A rise in wholesale inflation driven by fuel is a different policy problem from one driven by food.” Examine with reference to WPI data for September 2026. (150 words)
- Intro: 11.39% in September, up from 9.92%.
- Drivers: mineral oils, crude, coal; food articles rising.
- Why the source matters: supply shock vs demand; import dependence.
- Policy tools: taxes on fuel, buffer stocks, monetary stance.
- Conclusion: track pass-through to retail prices.
Image: Ganesh Dhamodkar, Wikimedia Commons, CC BY 1.0
How to use this in Mains
If asked: Distinguish WPI from CPI inflation and explain why a rise in WPI matters for retail prices. (GS-III)
Quote: “When they rise fast, retail prices usually follow with a lag.”
Use it: Drop it right after defining WPI; it explains the pass-through in one line.
Exam angle
Prelims: base year, group weights, monthly figures, release schedule. · Mains GS-III: inflation, its causes and control.
Practice MCQs
Original practice questions (not PYQs).
With reference to the Wholesale Price Index (base 2022-23), consider the following statements:
1. Manufactured Products carry the largest weight among the three major groups.
2. In September 2026, Fuel and Power showed the highest year-on-year inflation among the major groups.
Which of the statements given above is/are correct?
Answer (c) & explanation
PIB, 14 Oct 2026: Manufactured Products weight about 63.13; Fuel and Power 25.85%.
Along with provisional WPI, which of the following is also released every month by the Ministry of Commerce and Industry?
Answer (c) & explanation
PIB, 14 Oct 2026: WPI, Output PPI and trial Input PPI are released together.
Questions students ask about this
What was WPI inflation in September 2026?
11.39% year on year (provisional), up from 9.92% in August 2026.
What is the base year of the current WPI series?
2022-23.
Which group had the highest inflation in September 2026?
Fuel and Power, at 25.85%; within it, mineral oils rose 40.02%.
When is WPI released?
On the 14th of the following month, or the next working day if the 14th is a holiday. October 2026 data come on 16 November 2026.
Keep studying
Go deeper
Official source: PIB: Provisional WPI, Output PPI and trial Input PPI for September 2026, 14 Oct 2026
facts from cited sources only; faculty review pending