India’s wholesale inflation slipped further into negative territory in October 2025, with the Wholesale Price Index (WPI) registering a year-on-year (Y-o-Y) decline of 1.21%, according to provisional data released by the Press Information Bureau (PIB).
The negative inflation rate has been attributed mainly to a fall in the prices of food articles, crude petroleum and natural gas, electricity, mineral oils, and basic metals, the Ministry of Commerce & Industry said.
Overall WPI Movement
The All-India WPI for October 2025 stood at 154.8, marginally lower than 154.9 in September 2025. While WPI inflation was almost flat in September at 0.13%, the index turned sharply negative in October.
Breakdown by Major Groups
1. Primary Articles (Weight: 22.62%)
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October Index: 188.2
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Inflation: -6.18%
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Prices continued to decline for the third consecutive month, reflecting lower prices in several food and non-food primary commodities.
2. Fuel & Power (Weight: 13.15%)
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October Index: 145.0
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Inflation: -2.55%
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Despite a small rise in the index compared to September, the category remained in deflation due to overall lower energy and fuel prices.
3. Manufactured Products (Weight: 64.23%)
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October Index: 145.1
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Inflation: 1.54%
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Manufactured products showed moderate inflation but remained stable over the past three months.
This category includes machinery, chemicals, textiles, and metals.
Food Index (Weight: 24.38%)
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October Index: 192.0
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Inflation: -5.04%
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A significant drop from September’s -1.99%, driven by lower wholesale prices of several food commodities.
Last Three Months Snapshot (Index & Inflation)
| Category | Aug 2025 (F) | Sep 2025 (P) | Oct 2025 (P) |
|---|---|---|---|
| All Commodities | 155.2 (0.52%) | 154.9 (0.13%) | 154.8 (-1.21%) |
| Primary Articles | 191.0 (-2.10%) | 189.0 (-3.32%) | 188.2 (-6.18%) |
| Fuel & Power | 143.5 (-3.24%) | 143.4 (-2.58%) | 145.0 (-2.55%) |
| Manufactured Products | 145.0 (2.62%) | 145.2 (2.33%) | 145.1 (1.54%) |
| Food Index | 193.5 (0.21%) | 192.0 (-1.99%) | 192.0 (-5.04%) |
Outlook
The sustained deflation in WPI reflects easing pressures in the commodity markets, particularly food and energy. Economists say the decline may provide relief to producers but could signal weaker demand trends in certain sectors. The coming months will be closely watched for signs of price stabilization or further deflationary momentum.
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