WPI inflation expectedly stayed elevated at 9.9% in August 2026; likely to print in double digits in September-October 2026
Monthly Update
14 Sep 2026
In line with ICRA’s forecast, the year-on-year (YoY) Wholesale Price Index (WPI) inflation inched up to 9.9% in August 2026 from 9.8% in July, stemming from the WPI-food (primary and manufactured food products; at 20-month high +7.1%), and fuel and power (at +22.9%) segments, even as inflation for the other categories saw some softening.
The core-WPI inflation edged lower to 8.1% (+8.2% in July 2026), while printing near record levels, with seven of the 21 segments reporting a double-digit inflation. ICRA expects the food inflation to harden further during September-October 2026, given an unfavourable base, and stronger-than-usual sequential hardening in prices of some food items such as sugar, which could sour sentiment during the festive season.
