India’s annual wholesale price inflation dropped to (-) 0.58% in July 2025, marking a further decline from (-) 0.13% in June, according to data released by the Department for Promotion of Industry and Internal Trade (DPIIT). The fall was largely attributed to lower prices of food articles, mineral oils, crude petroleum & natural gas, and basic metals.
The Wholesale Price Index (WPI) for all commodities rose marginally to 154.4 in July from 153.8 in June, registering a 0.39% month-on-month increase.
Sector-Wise Performance
-
Primary Articles (Weight: 22.62%) — The index rose by 1.18% from June, driven by price increases in crude petroleum & natural gas (2.56%), non-food articles (2.11%), and food articles (0.96%). However, minerals saw a decline of 1.08%. Year-on-year, primary articles recorded a steep deflation of 4.95%, with vegetables (-28.96%), pulses (-15.12%), and onions (-44.38%) seeing significant drops.
-
Fuel & Power (Weight: 13.15%) — Prices rose by 1.12% over June, mainly due to a 1.98% increase in mineral oils. Coal (-0.44%) and electricity (-0.36%) prices eased. On a yearly basis, the category registered a 2.43% decline.
-
Manufactured Products (Weight: 64.23%) — The index slipped 0.14% month-on-month. Price increases were seen in segments such as other transport equipment, non-metallic mineral products, and furniture, while declines were noted in basic metals, fabricated metal products, food products, and chemicals. This category posted a 2.05% annual inflation rate.
Food Index Trends
The WPI Food Index inched up from 190.2 in June to 191.3 in July. Despite the monthly rise, annual food inflation remained negative, worsening from (-) 0.26% in June to (-) 2.15% in July.
Final and Provisional Figures
The final WPI for May 2025 stood at 153.7, with an inflation rate of 0.13%, based on a 95.9% response rate. The July figures are provisional, compiled with an 85.2% response rate, and will be revised as per policy.
The WPI for August 2025 is scheduled for release on September 15, 2025.
