India’s Wholesale Prices Fall Slightly In June As Fuel, Food And Metal Costs Drop

India’s wholesale inflation, measured by the All India Wholesale Price Index (WPI), slipped into deflationary territory in June 2025, registering a marginal decline of (-)0.13 per cent on a year-on-year basis.

This marks a reversal from 0.39 per cent in May 2025 and 0.85 per cent in April. The fall is largely attributed to reduced prices across key segments, particularly food articles, mineral oils, basic metals, and crude petroleum & natural gas.

The month-over-month WPI change for June stood at (-)0.19 per cent, highlighting a continued softening in wholesale prices.

While the Primary Articles group saw a rise of 0.81 per cent, driven by higher prices of food and non-food items, the Fuel and Power group dropped 2.52 per cent, dragged down mainly by a 9.10 per cent fall in electricity prices, along with minor drops in coal and mineral oils.

Manufactured products, which carry the highest weight in the WPI basket (64.23 per cent), edged down by 0.07 per cent.

Within this segment, price increases were observed in pharmaceuticals, transport equipment, and electronics, while declines were noted in basic metals, food products, and rubber and plastics.

The WPI Food Index, combining food components from both primary articles and manufactured products, rose slightly from 189.5 in May to 190.2 in June, yet the food inflation rate fell into deflation at (-)0.26 per cent, from 1.72 per cent a month earlier.

For April 2025, the final WPI inflation stood at 0.85 per cent, with the index value pegged at 154.2.

This continued cooling of wholesale prices suggests easing cost pressures in the production ecosystem, which may influence broader inflationary trends in the months ahead.

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