India’s Wholesale Inflation Surges to 8.3% in April Amid Rising Energy Prices: PHDCCI

India’s wholesale price inflation (WPI) surged to 8.3% in April 2026 on a year-on-year basis, compared to 3.88% recorded in March 2026, according to data highlighted by PHD Chamber of Commerce and Industry (PHDCCI).

The sharp rise in inflation was largely driven by a steep increase in fuel and energy-related prices, especially mineral oils and crude petroleum, along with higher prices in basic metals and manufacturing sectors.

Commenting on the development, Rajeev Juneja said the surge in wholesale inflation was mainly due to rising energy and petroleum prices, which significantly increased input costs across several manufacturing industries. However, he noted that food-related wholesale inflation remained relatively moderate compared to previous periods of volatility.

The WPI Fuel & Power group recorded inflation of 24.71% in April 2026, a massive jump from 1.05% in March 2026. Inflation in crude petroleum and natural gas rose sharply to 67.18%, while petrol and high-speed diesel inflation increased to 32.40% and 25.19% respectively.

PHDCCI stated that rising global Brent crude oil prices, geopolitical tensions, supply disruptions, and tightening energy markets contributed significantly to the increase in fuel costs.

Inflation in Primary Articles also climbed to 9.17% during April, supported by higher prices of crude petroleum, natural gas, food articles, and minerals. Meanwhile, Manufactured Products inflation rose to 4.62%, reflecting cost increases across sectors such as basic metals, chemicals, textiles, machinery, and food products.

On a month-on-month basis, headline WPI increased by 3.86% in April over March 2026, with the Fuel & Power segment alone witnessing a sharp monthly rise of 18.22%.

The WPI Food Index rose modestly from 1.85% in March to 2.31% in April. Inflation in cereals and pulses remained relatively contained, while fruits and vegetables showed mixed price trends. Onion prices continued to remain lower on a yearly basis, whereas milk and protein-based food products registered moderate increases.

Among manufactured goods, inflation in basic metals increased to 7%, textiles to 7.30%, and chemicals and chemical products to 5.09%, indicating growing pressure across industrial supply chains.

The provisional WPI index for All Commodities stood at 167.0 in April 2026, compared to 160.8 in March. The final WPI inflation rate for February 2026 was also revised upward to 2.26%.

According to the Department for Promotion of Industry and Internal Trade (DPIIT), the April WPI figures were compiled with a weighted response rate of 96.7%, and the provisional data may be revised later as per standard policy.

Ranjeet Mehta said future movements in global energy prices, commodity markets, and supply chain conditions would remain crucial factors influencing wholesale inflation trends in the coming months.

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