India’s Wholesale Price Index (WPI) rose +0.71% MoM in December 2025 and turned positive at +0.83% YoY, marking a shift out of recent wholesale deflation.

• All-commodities WPI increased to 157.0 in December (from 155.9 in November), with YoY inflation improving to +0.83% (from -0.32%), which the release attributed mainly to firmer prices in manufacturing-related categories including machinery/equipment, food products, textiles, and minerals.

• Primary Articles rose +1.09% MoM (index 194.2 from 192.1) and moved to +0.21% YoY (from -2.93%), reflecting higher prices for non-food articles (+2.76% MoM), minerals (+1.62%), and food articles (+0.88%), while crude petroleum & natural gas fell -0.45% MoM.

• Fuel & Power increased +1.23% MoM (index 148.3 from 146.5) but remained in deflation at -2.31% YoY, with gains driven by electricity (+4.46% MoM), coal (+0.66%), and mineral oils (+0.07%).

• Manufactured Products rose +0.41% MoM (index 145.6 from 145.0) and inflation strengthened to +1.82% YoY (from +1.33%), as 13 of 22 manufacturing groups posted price increases, 8 declined, and 1 was unchanged.

• Within manufacturing, notable MoM price gains were reported in other manufacturing, basic metals, chemicals, textiles, and other non-metallic mineral products, while declines were seen in rubber & plastics, computer/electronic/optical products, paper products, beverages, and food products.

• The WPI Food Index rose +0.51% MoM to 196.0 (from 195.0) and its YoY inflation improved to 0.00% (from -2.60%), indicating wholesale food prices moved back to flat YoY after prior declines.

• The release notes October 2025 final all-commodities WPI inflation was -1.02% YoY, providing context for the subsequent improvement through November (-0.32%) and December (+0.83%).