India has launched a new WPI series with base year 2022-23, replacing the 2011-12 series. New Output PPI (OPPI), Trial Input PPI (IPPI), and Service PPIs for 7 services have also been introduced. The WPI basket has expanded from 697 to 957 items.
WPI inflation for May 2026 rose to 9.68% YoY, up from 8.26% in April. The All Commodities WPI index increased to 109.9 from 108.8. Key inflation drivers were petroleum products, crude oil and natural gas, chemicals, and basic metals.
Among major groups, Primary Articles inflation rose to 4.99% from 3.78% with index at 113.7. Fuel & Power inflation jumped to 30.33% from 24.89% with index at 113.0. Manufactured Products inflation increased to 7.48% from 6.68% with index at 107.8.
The WPI Food Index (weight 24.99%) recorded 4.49% inflation, compared with 3.11% in April. The government also added solar, wind, and nuclear electricity to the new series and shifted crude oil and natural gas into the Fuel & Power category.
The new methodology uses Gross Value of Output (GVO) for weights instead of Net Traded Value. Missing prices will be estimated using Targeted Mean Imputation, while index calculation has shifted to a short-term formulation method.
The new Output PPI (OPPI) stood at 109.6 in May 2026 versus 108.6 in April. Sector indices were 111.9 for Agriculture, 122.3 for Mining, 109.5 for Manufacturing, and 90.2 for Electricity.
Linking factors between old and new WPI series are 1.53 for All Commodities, 1.71 for Primary Articles, 1.65 for Fuel & Power, and 1.44 for Manufactured Products. The next WPI, OPPI, and IPPI release is scheduled for 14 July 2026.
India’s Wholesale Inflation Jumps to 9.68% as New WPI Launches
Kanika Sharma is a Geopolitical Analyst and Editor at BigBreakingWire. She holds a Master's degree in History from the Central University of Punjab, with an academic background in qualitative research, text analysis, and historical frameworks. At BigBreakingWire, she analyzes global trade shifts, international policies, geopolitical developments, semiconductor supply chains, manufacturing policies, and sovereign industrial initiatives. Her work combines historical context with contemporary policy and macroeconomic analysis to explain complex global developments clearly and accurately.
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