India’s Wholesale Price Index (WPI)-based inflation stood at 3.88% (provisional) for March 2026 (year-on-year, over March 2025), up from 2.13% in February 2026. The month-over-month change in WPI for March 2026 stood at 1.64% compared to February 2026.
The rise in inflation was primarily driven by increase in prices of crude petroleum & natural gas, other manufacturing, non-food articles, manufacture of basic metals, and food articles.
WPI Inflation- Major Groups (March 2026) Summary Table
Primary Articles (Weight: 22.62%) | Inflation: 6.36% Index increased to 197.3 (from 192.9 in Feb) Crude petroleum & natural gas (+36.16%) and minerals (+0.12%) increased Food articles (-0.85%) and non-food articles (-0.22%) declined |
| Fuel & Power (Weight: 13.15%) | Inflation: 1.05% Index increased to 153.7 (from 147.6 in Feb) MoM increase of 4.13% Mineral oils (+8.77%) increased · Electricity (-5.07%) declined |
| Manufactured Products (Weight: 64.23%) | Inflation: 3.39% Index increased to 149.5 (from 148.2 in Feb) Out of 22 NIC groups, 16 saw price rise and 6 decline Increases in food products, chemicals, basic metals, textiles Declines in machinery & equipment, beverages, computer & electronic products, wearing apparel |
| WPI Food Index (Weight: 24.38%) | Inflation: 1.85% (unchanged) Index marginally declined to 192.8 (from 192.9 in Feb) |
Final Index- January 2026
For January 2026 (Base Year: 2011-12 = 100), the final WPI for All Commodities stood at 157.6 with an inflation rate of 1.68%.
WPI Overview
- Wholesale Price Index (WPI)measures the average change in prices of goods sold in bulk at the wholesale level before reaching consumers.
- Published monthly by the Office of the Economic Adviser (OEA), under the Ministry of Commerce and Industry.
- Base Year: The current base year is 2011-12.
- A base year revision to 2022-23 is currently under consideration by a government working group.
- Coverage: Covers a basket of 697 commodities
Major Groups & Weightage:
- Manufactured Products (64.23%): Includes textiles, chemicals, and metals. It is the most influential category.
- Primary Articles (22.62%): Includes food articles (grains, vegetables), non-food articles, and minerals.
- Fuel and Power (13.15%): Covers petrol, diesel, LPG, and electricity.
Comparison: WPI vs. CPI
- The primary difference between the WPIand the CPI is the stage of transaction at which they measure inflation.
- WPItracks price changes of goods sold in bulk at the wholesale level (before they reach retailers), while CPI measures the change in prices paid by households for goods and services at the retail level
| Feature | Wholesale Price Index (WPI) | Consumer Price Index (CPI) |
|---|---|---|
| Meaning | Measures average price change of goods sold in bulk. | Measures average price change at the retail level. |
| Stage | First stage of transaction. | Final stage of transaction. |
| Coverage | Goods only (Commodities). | Goods and Services (e.g., medical, education). |
| Highest Weight | Manufactured Products (~64.2%). | Food and Beverages (~45.9%). |
| Published By | Office of Economic Adviser (Min. of Commerce & Industry). | National Statistical Office (NSO) under MoSPI. |
| Base Year | 2011-12. | 2024 (New series; formerly 2012). |
| Items in Basket | 697 items. | 358 items in the newest 2024 basket. |