India’s Wholesale Price Index (WPI) inflation eased to +0.13% YoY in September 2025 (from +0.52% in August), while prices fell -0.19% MoM, reflecting slight moderation in wholesale price momentum.

• Primary Articles declined -1.05% MoM, with lower prices for food (-1.38%) and non-food articles (-1.06%), partly offset by gains in minerals (+1.36%) and crude petroleum & natural gas (+0.64%).

• Fuel & Power edged down -0.14% MoM, as mineral oils (-0.54%) and coal (-0.15%) fell, while electricity rose +1.20%.

• Manufactured Products rose +0.21% MoM, marking a third consecutive monthly increase, supported by gains in food products, textiles, electrical equipment, and other non-metallic mineral products.

• The WPI Food Index dropped -0.78% MoM, reversing August’s +1.10% rise, pushing its annual inflation rate down to -1.99% YoY from +0.21% in August.

• Annual inflation in Manufactured Products remained firm at +2.33% YoY, while Primary Articles (-3.32% YoY) and Fuel & Power (-2.58% YoY) continued to decline.