The Office of the Economic Adviser, DPIIT, has released the Wholesale Price Index (WPI) for February 2026, reporting an annual rate of inflation of 2.13% (provisional). This represents an increase from 1.81% in January 2026 and 0.96% in December 2025. The positive inflation rate for the month reflects growth in prices for manufactured products, non-food articles, and food articles. While the annual rate rose, the month-over-month (M-o-M) change in the WPI stood at 0.25%, which was supported by price increases in the Fuel & Power (1.17%) and Manufactured Products (0.47%) major groups.
Key Wholesale Price Indicators (February 2026)
Annual Inflation Rate: Rose to 2.13% from 1.81% in January 2026.
Primary Articles Inflation: Increased to 3.27% annually, despite a M-o-M decline of 0.52%.
Manufactured Products: The index rose by 0.47% M-o-M, with contributing sectors including textiles, electrical equipment, and chemical products.
Fuel & Power Dynamics: M-o-M inflation reached 1.17%, largely driven by a 2.05% increase in mineral oil prices.
Food Index Inflation: The annual rate for the WPI Food Index increased to 1.85%, even as the index itself decreased slightly M-o-M by 0.67%.
Specific Item Fluctuations: Significant M-o-M price increases were noted in Crude Petroleum (6.41%) and Fruits (8.54%), while Vegetables (-17.08%) and Onions (-14.90%) saw declines.
What is the "WPI Food Index"? The WPI Food Index is a composite indicator that includes 'Food Articles' from the Primary Articles group and 'Food Products' from the Manufactured Products group. It carries a total weight of 24.38% in the overall WPI. In February 2026, the Food Index declined from 194.2 to 192.9 on a month-over-month basis, which was supported by falling prices in vegetables and cereals. However, the annual inflation rate for this index rose to 1.85%, reflecting the price levels compared to the previous year. This index plays a role in tracking wholesale price pressures on essential food items before they reach the retail level.
Policy Relevance: Monitoring Price Stability in Industrial Inputs
Analyzing Manufacturing Costs: The 0.47% M-o-M rise in Manufactured Products reflects growth in input costs for 16 out of 22 major NIC groups, including textiles and chemicals.
Fuel Price Sensitivity: The 1.17% increase in the Fuel & Power index, driven by mineral oils, plays a role ininfluencing logistics and production costs across the economy.
Tracking Agricultural Trends: While annual food inflation is positive, the M-o-M decline in Food Articles (-1.33%) is supported by seasonal drops in vegetable and potato prices.
Industrial Strategy Support: The rise in Crude Petroleum prices (6.41%) M-o-M serves as a key indicator for the Ministry of Petroleum and Natural Gas in managing domestic price volatility.
Follow the Full Release Here: Index Numbers of Wholesale Price in India for February 2026