India’s Wholesale Inflation Rises To 1.81% In January, Hits 10-Month High

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Last Updated: 17th February 2026 - 10:34 am

Summary:

India’s wholesale price inflation rose to 1.81% in January 2026, marking a ten-month high, data released by the Ministry of Commerce and Industry showed. The increase was driven by higher prices of manufactured products, basic metals, textiles and non-food articles, even as fuel and primary articles recorded marginal declines during the month.
 

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Wholesale Price Index (WPI)-based inflation increased to 1.81% in January from 0.83% in December 2025. This marked the highest WPI inflation reading since March last year. The positive print reflected broad-based price increases across several manufacturing categories, according to official data.

The government attributed the rise primarily to higher prices in basic metals, other manufacturing segments, non-food articles, food articles and textiles.

Food And Primary Articles

The WPI food index rose 1.41% in January, compared with zero inflation in December. However, within primary articles, overall prices declined marginally by 0.15%.

Food article prices fell 1.79% on a month-on-month basis, while mineral prices declined 0.47%. In contrast, non-food articles became significantly costlier, rising 5.32% during the month. Crude petroleum and natural gas prices also increased by 4.27% compared with December levels.

Fuel, Power And Manufactured Goods

Fuel and power prices eased by 1.62% in January. Electricity prices declined 2.91%, while mineral oil prices fell 1.68%. Coal prices recorded a marginal increase of 0.73%.

Manufactured products inflation stood at 1.30% in January. Of the 22 manufacturing groups, prices rose in 19 categories, including basic metals, food products, textiles, electrical equipment and other manufacturing items. Prices declined in pharmaceuticals, machinery and equipment, and furniture.

Retail Inflation Context

Separately, retail inflation based on the Consumer Price Index stood at 2.75% in January 2026, as per data released by the Ministry of Statistics and Programme Implementation.

The CPI series has shifted its base year to 2024, reflecting updated consumption patterns with a higher weight for services and a reduced share for food.

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