New Delhi, December 15:
India’s wholesale price inflation slipped into negative territory in November 2025, with the annual Wholesale Price Index (WPI) inflation recorded at –0.32 per cent, according to official data released by the government on Monday. The decline was mainly driven by lower prices of food articles, mineral oils, crude petroleum and natural gas, basic metals and electricity.
Data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showed that the overall WPI contraction in November came in comparison to November 2024, reflecting easing cost pressures across several key commodity groups.
On a month-on-month basis, the Primary Articles group registered a 2.07 per cent increase, with the index rising from 188.2 in October to 192.1 in November. Prices of minerals rose by 4.50 per cent, food articles by 2.50 per cent and non-food articles by 1.28 per cent, while prices of crude petroleum and natural gas declined by 1.62 per cent during the month.
The Fuel and Power index increased by 1.03 per cent, moving from 145.0 in October to 146.5 in November. Electricity prices rose sharply by 6.70 per cent, while mineral oil prices declined by 0.67 per cent. Coal prices remained unchanged.
In contrast, the Manufactured Products group, which carries the highest weight in the WPI basket, saw a marginal decline of 0.07 per cent in November. Out of 22 two-digit manufacturing groups, prices fell in 14 groups, increased in seven and remained unchanged in one. Declines were seen in fabricated metal products, food products, non-metallic mineral products, chemicals, and computer and electronic goods, while higher prices were recorded for textiles, machinery and equipment, electrical equipment and wearing apparel.
The WPI Food Index increased from 192.0 in October to 195.0 in November. However, year-on-year food inflation remained negative at –2.60 per cent, though it narrowed from –5.04 per cent in the previous month.
The government also released final figures for September 2025, revising the WPI for all commodities to 155.0, with an annual inflation rate of 0.19 per cent.
Officials noted that the WPI for November 2025 was compiled with a weighted response rate of 82 per cent, while the final September data was based on a response rate of 93.9 per cent. Provisional figures will be revised as per the established revision policy.
The next WPI data release, for December 2025, is scheduled for January 14, 2026.
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