The annual rate of inflation based on the All India Wholesale Price Index rose to 2.13 percent on a year on year basis in February 2026 compared to February 2025, according to provisional data released for the month. The rise in wholesale inflation was primarily driven by higher prices in several manufacturing segments as well as increases in non food articles, food articles, textiles and basic metals.
The Wholesale Price Index for all commodities stood at 158.2 in February 2026, up from 157.8 in January 2026 and 157.2 in December 2025. The inflation rate for all commodities had stood at 1.81 percent in January 2026 and 0.96 percent in December 2025, indicating a steady upward movement in wholesale inflation over the last three months.
The Wholesale Price Index is compiled using the base year 2011–12 and tracks price movements across major commodity groups including primary articles, fuel and power, and manufactured products.
Primary Articles
The index for primary articles, which carries a weight of 22.62 percent in the overall WPI basket, stood at 192.9 in February 2026 compared with 193.9 in January 2026 and 194.2 in December 2025. On a year on year basis, inflation in this category increased to 3.27 percent in February 2026 compared with 2.21 percent in January 2026 and 0.21 percent in December 2025.
On a month on month basis, the primary articles index declined by 0.52 percent from 193.9 in January 2026 to 192.9 in February 2026.
Within this group, the price of food articles declined by 1.33 percent and the price of minerals fell by 1.21 percent in February compared with January. However, prices of crude petroleum and natural gas rose by 4.17 percent during the month, while non food articles recorded an increase of 0.83 percent.
Food Articles
Food articles, which account for a weight of 15.26 percent in the WPI basket, recorded an index level of 200.2 in February 2026. Within the food articles category, prices of several commodities showed mixed trends.
The cereals index stood at 207.9 in February 2026 compared with 209.3 in January 2026. Paddy recorded an index of 204.3 while wheat stood at 211.4.
Pulses recorded an index of 196.9 in February 2026, showing a month on month increase of 1.97 percent but still reflecting a year on year decline of 5.92 percent.
Vegetable prices showed a sharp decline with the vegetable index falling to 197.1 in February 2026 from 237.7 in January 2026. Potato prices declined significantly with the index falling to 157.0 from 178.9 in the previous month, while onion prices fell to 179.4 from 210.8.
Fruits recorded an increase in prices with the index rising to 217.3 in February from 200.2 in January. Milk prices remained relatively stable with an index of 192.1, while eggs, meat and fish recorded an index of 180.7.
Non Food Articles
Non food articles registered an index level of 181.7 in February 2026 compared with 180.2 in January 2026. The category recorded a year on year inflation rate of 8.80 percent in February 2026.
Oil seeds prices rose significantly with the index increasing to 224.3 in February 2026 from 218.7 in January 2026, reflecting a year on year inflation of 25.38 percent.
Minerals recorded an index of 253.1 in February 2026 compared with 256.2 in January 2026.
Crude petroleum and natural gas recorded an index of 144.9 in February 2026 compared with 139.1 in January 2026. Crude petroleum alone registered an index of 122.8 in February compared with 115.4 in January.
Fuel and Power
The fuel and power group, which carries a weight of 13.15 percent in the WPI basket, recorded an index of 147.6 in February 2026 compared with 145.9 in January 2026 and 148.3 in December 2025.
The category recorded a year on year inflation rate of minus 3.78 percent in February 2026 compared with minus 4.01 percent in January 2026 and minus 2.31 percent in December 2025.
On a month on month basis, the fuel and power index increased by 1.17 percent during February 2026. The increase was mainly driven by higher prices of mineral oils which rose by 2.05 percent during the month. Electricity prices declined marginally by 0.27 percent compared with January.
Within the fuel segment, LPG recorded an index of 117.3 in February 2026 compared with 114.2 in January 2026. Petrol recorded an index of 144.3 while high speed diesel recorded an index of 160.4.
Manufactured Products
Manufactured products, the largest component of the WPI basket with a weight of 64.23 percent, recorded an index of 148.2 in February 2026 compared with 147.5 in January 2026 and 145.9 in December 2025.
The year on year inflation rate for manufactured products increased to 2.92 percent in February 2026 compared with 2.86 percent in January 2026 and 2.03 percent in December 2025.
On a month on month basis, the index for manufactured products increased by 0.47 percent from January to February.
Among the 22 industry groups under manufactured products, prices increased in 16 groups while five groups recorded a decline in prices.
Major sectors that recorded an increase in prices included other manufacturing, manufacture of food products, textiles, manufacture of electrical equipment, and chemicals and chemical products.
Sectors that recorded a decline in prices included manufacture of basic metals, computer electronic and optical products, fabricated metal products except machinery and equipment, wood and wood products and leather and related products.
Within the manufactured products group, several important categories recorded the following index values in February 2026:
Manufacture of food products recorded an index of 180.7, vegetable and animal oils and fats stood at 190.3, beverages recorded an index of 135.8, and tobacco products recorded a higher index of 191.1.
Textiles recorded an index of 141.4, wearing apparel recorded an index of 157.6 and leather and related products recorded an index of 128.4.
Paper and paper products recorded an index of 140.7 while chemicals and chemical products recorded an index of 137.9. Pharmaceuticals and medicinal chemical products recorded an index of 145.9.
Rubber and plastics products recorded an index of 129.2 while non metallic mineral products recorded an index of 133.7. Cement, lime and plaster recorded an index of 132.4.
Basic metals recorded an index of 143.9 while fabricated metal products except machinery and equipment recorded an index of 136.3.
Food Index
The WPI Food Index, which combines food articles from the primary articles group and food products from the manufactured products group and carries a combined weight of 24.38 percent, declined to 192.9 in February 2026 from 194.2 in January 2026.
Despite the decline in the index value, the year on year inflation rate based on the WPI Food Index increased to 1.85 percent in February 2026.
Month on Month Movement
The month on month change in the overall WPI index stood at 0.25 percent in February 2026 compared with January 2026.
Over the past six months, month on month WPI changes have shown moderate fluctuations. The index recorded a decline of 0.13 percent in September 2025, followed by a rise of 0.06 percent in October 2025, a rise of 0.71 percent in November 2025, a rise of 0.64 percent in December 2025, an increase of 0.38 percent in January 2026 and a rise of 0.25 percent in February 2026.
Response Rate and Data Compilation
The Wholesale Price Index for February 2026 has been compiled based on a weighted response rate of 83.9 percent from institutional sources and selected manufacturing units across the country. The final index for December 2025 has been compiled with a response rate of 93.1 percent.
The provisional figures for February 2026 will undergo revision according to the established revision policy of the index. Provisional WPI data is normally finalized within ten weeks from the reference month and then frozen.
The final Wholesale Price Index for December 2025 stood at 157.2 with an inflation rate of 0.96 percent.
The next Wholesale Price Index release for March 2026 is scheduled for April 14, 2026.
