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Informist, Thursday, Sept. 10, 2026

 

By Radhika Tiwari

 

NEW DELHI – India's wholesale price inflation is likely to remain unchanged in August as the statistical effect of a high base is expected to offset the rise in food prices, according to an Informist Poll. According to the average of estimates from 10 economists, WPI inflation in August is seen at 9.8%, unchanged from 9.78% in July. WPI inflation was at 0.0% in August last year under the new series, with 2022-23 (Apr-Mar) as the base year.

 

Economists expect WPI inflation in August to range from 9.3% to 10.24%. The Department for Promotion of Industry and Internal Trade will release WPI data for August at 1200 IST Monday.

 

WPI inflation has remained around 9.8-9.9% in the last three months, primarily on account of a sharp increase in fuel and power inflation. Fuel and power inflation was 20.05% in July. 

 

"WPI inflation is closely correlated with global commodity prices that have been rising, and higher food prices should be an additional drag in August," Abhishek Upadhyay, co-head of economics and fixed income research at ICICI Securities and Primary Dealership, said. ICICI Securities and Primary Dealership sees August WPI inflation at 10.0%. 

 

"WPI is expected to remain elevated in the near term, led by rainfall deficit and war-driven supply chain disruptions and persistent cost pressures, especially in the core segment," economists at Union Bank of India said in a note. "The low base effect and pass-through of higher input costs are likely to continue to exert pressure on the headline number."

 

Economists at Union Bank of India expect WPI food inflation to accelerate to 8.14% in August from 6.65% last month and fuel inflation to fall to 13.97% from 20.05%.

 

According to data from the Department of Consumer Affairs, wholesale prices of onion rose nearly 21% on month and sugar jumped nearly 15% on month in August. Wholesale prices of edible oils rose 1.0% on month in August, while those of potato slipped 0.2% and tomato fell 7% on month in August.

 

India has received 648 millimetres of rain during Jun. 1 to Sept. 10, 15?low the normal of 766.6 millimetres for the period, according to the India Meteorological Department.

 

Core WPI inflation, which excludes food and fuel items, is seen at 8.6% in August, up from 8.2% in July, according to the average of five estimates.

 

WPI inflation is expected to remain well above CPI inflation, which is expected to rise to a 20-month high of 4.8% in August from 4.45% in July.

 

Following is a summary of the poll by Informist on WPI inflation in August, in ascending order of the estimates:

 

ORGANISATION	WPI INFLATION ESTIMATES
CareEdge Ratings	9.3%
Union Bank of India	9.34%
YES Bank	9.58%
QuantEco Research	9.7%
Nirmal Bang	9.78%
Motilal Oswal Financial Services	9.9%
STCI Primary Dealer	9.9%
ICICI Securities and Primary Dealership	10.0%
ICICI Bank	10.15%
Sunidhi Securities	10.24%

 

End

 

Edited by Saji George Titus

 

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