India Wholesale Price Index (WPI) Inflation

India Wholesale Price Index (WPI): Key Updates

Latest Release

April, 2025

Current

2.05%

Previous

2.38%

Source: Office Of The Economic Adviser, Govt of India

WPI Overall Analysis (March 2025)

  • The annual inflation rate, based on the All India Wholesale Price Index (WPI), is provisionally recorded at 2.05% for March 2025 compared to March 2024.

  • Mainly driven by rising prices in the manufacturing of food products, food articles, other manufacturing sectors, non-food articles, and textile manufacturing.
  • Previously it was observed as 2.38% for Feb 2025.
  • The month-to-month variation in the Wholesale Price Index for March 2025 was recorded at a decrease of 0.19% in comparison to February 2025.

WPI Component Analysis (March 2025)

  1. Primary Articles
    • The index decreased by 1.07% month-over-month to 184.6 in March 2025 from 186.6 in February 2025.
    • Prices fell for crude petroleum & natural gas (-2.42%), non-food articles (-2.40%), and food articles (-0.72%), while minerals rose slightly by 0.31%.
    • The annual inflation rate for primary articles dropped significantly to 0.76% in March 2025 from 2.81% in February 2025.
  2. Fuel & Power
    • The index declined 0.91% month-over-month to 152.4 in March 2025 from 153.8 in February 2025.
    • Electricity prices fell by 2.31% and mineral oils by 0.70%, while coal prices remained unchanged.
    • The annual inflation rate turned slightly positive at 0.20% in March 2025 compared to negative rates in previous months.
  3. Manufactured Products
    • The index rose by 0.42% month-over-month to 144.4 in March 2025 from 143.8 in February 2025.
    • Out of 22 NIC two-digit groups, 16 saw price increases including basic metals, food products, and machinery; 5 groups saw decreases such as textiles and chemicals.
    • The annual inflation rate for manufactured products increased to 3.07% in March 2025, up from 2.86% in February 2025.
  4. WPI Food Index
    • The food index decreased slightly month-over-month from 189.0 in February 2025 to 188.8 in March 2025.
    • Annual inflation based on the food index eased to 4.66% in March 2025 from 5.94% in February 2025.
    • Key food articles like cereals, pulses, and vegetables showed mixed trends with some price declines in vegetables and pulses.

Above mentioned data shows “All Commodities” points provisional. This data is for March 2025 month which was published in April 2025.

WPI overview

The Wholesale Price Index (WPI) measures the average change in the prices of commodities at the wholesale level, providing insights into inflationary trends in the economy. Unlike the Consumer Price Index (CPI), which keeps an eye on the prices shoppers pay at stores, the Wholesale Price Index (WPI) looks at the costs of goods exchanged between businesses instead.

India Wholesale Price Index (WPI) major components

In India, the Wholesale Price Index (WPI) has three major components: Primary Articles, Fuel & Power, and Manufactured Products.

  • Primary Articles
  • Fuel & Power
  • Manufactured Products

Additional Index: Food Index (Derived, Not a Separate Component)
The Food Index is a combination of: Food Articles (from Primary Articles) + Manufacture of Food Products (from Manufactured Products).

So, while the Food Index is reported separately, it is derived from existing WPI components and is not an independent category.

WPI Year-on-Year (Y-o-Y) Inflation and Index by Month

MonthAll Commodities (Index / %Infl.)Primary ArticlesFuel & PowerManufactured ProductsFood Index
Mar-25 (Provisional)154.5 / 2.05%184.6 / 0.76%152.4 / 0.20%144.4 / 3.07%188.8 / 4.66%
Feb-25 (Provisional)154.8 / 2.38%186.6 / 2.81%153.8 / -0.71%143.8 / 2.86%189.0 / 5.94%
Jan-25 (Final)155.0 / 2.51%189.7 / 4.58%152.0 / -1.87%143.4 / 2.65%191.5 / 7.52%
This table displays the latest WPI Index and Inflation data. It gets updated when new data is published.
Please note that annual rate of WPI inflation calculated over the corresponding month of previous year.

Related Inflation and Price Indicators

  • CPI Inflation
  • Education Inflation
  • CPI Housing Utilities
  • Food Inflation
  • Health Inflation
  • WPI Food Index
  • WPI Fuel & Power
  • WPI Manufacturing
  • Inflation Expectations

Important

If you notice any discrepancies in the data or find any inaccuracies, please let us know. We will review and correct them as soon as possible.

Other Indicators

GDP & Economic Growth Indicator
  • GDP
  • Full Year GDP Growth
  • GDP per Capita
  • GDP from Agriculture
  • GDP from Construction
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