India’s wholesale inflation declined to -1.21% in October 2025, marking a drop from 0.13% in September, according to data released by the Ministry of Commerce and Industry. This contraction was mainly driven by lower prices of food articles, crude petroleum, natural gas, electricity, mineral oils, and basic metals.
The Wholesale Price Index (WPI) for all commodities eased slightly to 154.8 in October from 154.9 in September, reflecting a month-over-month decline of 0.06%.
Inflation in Primary Articles fell sharply to -6.18% in October, compared with -3.32% in September. Prices of crude petroleum and natural gas dropped by over 3%, while non-food articles also recorded a decline. Mineral prices, however, rose by 1.72%. Food article prices remained unchanged month-on-month.
The Fuel & Power group registered a modest month-over-month increase of 1.12%, backed by higher prices of electricity and mineral oils. On an annual basis, inflation in this category remained negative at -2.55%.
Inflation in Manufactured Products, which account for nearly two-thirds of the WPI basket, moderated to 1.54% in October from 2.33% in September. The group’s index slipped marginally by 0.07% month-over-month. Seven of the 22 manufacturing categories saw price declines, including basic metals, chemicals, and motor vehicles, while textiles, food products, electronics, and electrical equipment reported price increases.
The WPI Food Index held steady at 192.0 between September and October. However, its annual inflation rate dropped to -5.04%, compared with -1.99% a month earlier, reflecting deeper deflation in food prices.
DPIIT also released the final WPI inflation for August 2025, revising it to 0.52%, with the corresponding index now confirmed at 155.2.
The WPI for October 2025 was compiled with a weighted response rate of 84.2%. DPIIT will release the next set of wholesale inflation data, for November 2025, on December 15, 2025.
