India’s wholesale inflation surged sharply to 8.3% in April 2026, marking the highest level recorded since October 2022, mainly due to a steep rise in fuel, crude oil, and manufacturing costs.
According to official data released by the Ministry of Commerce and Industry on May 14, the Wholesale Price Index (WPI)-based inflation climbed significantly from 3.88% in March and 2.26% in February, indicating mounting price pressure across multiple sectors of the economy.
The government said the sharp increase was largely driven by rising prices of mineral oils, crude petroleum, natural gas, metals, and manufactured products amid elevated global crude oil prices.
Fuel and power inflation witnessed the biggest spike among all major categories, jumping to 24.71% in April compared to just 1.05% in March. The fuel and power index rose 18.22% month-on-month, led by a massive increase in mineral oil prices.
Among petroleum products, petrol inflation surged 32.4% year-on-year, while high-speed diesel inflation reached 25.19%. LPG inflation also rose to 10.92% during the month.
Crude petroleum and natural gas prices recorded the steepest increase, with inflation in the segment touching 67.18%, while crude petroleum alone saw an 88.06% rise in April.
Inflation in primary articles also climbed to 9.17% from 6.36% in March. Manufactured products inflation rose to 4.62%, with higher prices reported across sectors including basic metals, chemicals, textiles, machinery, and food products.
Despite the broader inflation surge, food inflation remained relatively moderate. The WPI Food Index increased slightly to 2.31% in April from 1.85% in March. Prices of onions and potatoes continued to remain in negative territory, while pulses also recorded declining inflation rates.
However, inflation for eggs, meat, fish, and milk continued to rise, adding pressure on household expenses.
Economists say the sharp rise in wholesale inflation could eventually impact retail prices as higher fuel and industrial costs get passed on to consumers in the coming months.