2026.05.1406:37:25UTC+00India Wholesale Price Inflation Highest Since 2022

India’s wholesale prices rose 8.30% year-on-year in April 2026, a sharp acceleration from 3.88% in March and well above market expectations of 4.4%. This was the fastest increase since October 2022, driven by a steeper rise in manufacturing and food costs, as well as a surge in fuel prices linked to the Middle East crisis.

Fuel prices jumped 24.71%, the quickest pace since September 2022. This was led by a pronounced acceleration in petrol prices (32.40% vs 2.50% in March) and high-speed diesel (HSD) prices (25.19% vs 3.26%), while LPG prices rebounded (10.92% vs -1.54%).

Manufacturing inflation climbed to 4.62% from 3.39%, the fastest rate since September 2022, driven by higher prices in textiles (7.30% vs 4.91%), leather, and chemicals and chemical products (5.09% vs 2.19%).

Food inflation rose to a 12‑month high of 2.31%, mainly reflecting higher prices for eggs, meat & fish (6.68%), and milk (2.56%).