Quote on WPI data by Rahul Agrawal, Principal Economist, ICRA Ltd
Below the Quote on WPI data by Rahul Agrawal, Principal Economist, ICRA Ltd
"As per the new WPI series (base year: 2022-23) released by the Commerce Ministry, the headline WPI inflation surged to a series high of 9.7% in May 2026 from 8.3% in April 2026, amidst a broad-based uptick across most groups, partly aided by a favourable base. The fuel and power segment, which now accounts for 14.1% of the WPI by weight and also includes the crude petroleum and natural gas groups, witnessed a sharp rise in the inflation rate to 30.3% in the month from 24.9% in April 2026, reflecting the continued passthrough of elevated global energy prices.
Besides, the manufactured products segment also witnessed a continued hardening in inflation, to 7.5% in May 2026 from 6.7% in April 2026, amid an uptick across as many as 17 of the 22 sub-segments between these months.
The newly released OPPI prints have closely tracked the WPI, with the inflation in the former printing at 9.4% in May 2026, up from 8.1% in April 2026.
The recent cooling in global energy and commodity prices after the easing of tensions in the West Asia is expected to provide respite to the WPI inflation print for June 2026.
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