The impact of expensive fuel has now started reflecting in inflation rates. India’s wholesale inflation rose to 8.3 percent in April 2026, the highest level in the last 42 months. According to a statement issued by the Ministry of Commerce and Industry, the sharp rise in wholesale inflation was driven by higher prices of mineral oils, crude petroleum, natural gas, basic metals, and other manufactured products. Wholesale inflation stood at 3.58 percent in March and 2.26 percent in February.
Inflation in the fuel and power category surged to 24.71 percent, compared to 1.05 percent in March and -3.85 percent in February. Inflation in primary articles also increased to 9.17 percent, up from 6.36 percent in March and 3.21 percent in February. Wholesale inflation in manufactured products stood at 4.62 percent, compared to 3.39 percent in March 2026 and 3.53 percent in February.
In comparison, food prices recorded a relatively moderate increase. Food inflation under the wholesale price index stood at 2.31 percent in April, slightly higher than 1.85 percent recorded in both February and March. Food items carry a weightage of 24.38 percent in the wholesale inflation index.
Within the fuel and power category, wholesale LPG inflation rose to 10.92 percent last month, compared to -0.41 percent in April 2025. Petrol inflation jumped to 32.40 percent from -7.70 percent a year earlier. Diesel inflation also rose sharply to 32.40 percent from -5.04 percent.
Among primary articles, crude petroleum prices increased by 88.06 percent year-on-year in April 2026, compared to -19.85 percent inflation in April 2025. In March 2026, crude petroleum prices had already risen by 51.57 percent. Combined prices of crude petroleum and natural gas rose by 67.18 percent, whereas they had declined by 15.55 percent in April 2025. In March 2026, the combined inflation rate for crude petroleum and natural gas was 35.98 percent. Prior to this, from November 2025 to February 2026, inflation in crude petroleum and natural gas remained in negative territory.
Among food-related primary articles, wholesale wheat prices were 0.38 percent higher in April 2026. Prices of pulses declined by 4.03 percent. In April 2025 as well, wholesale inflation in pulses was negative at -5.57 percent. Vegetable inflation stood at 0.53 percent, but potato prices fell by 30.04 percent and onion prices by 26.45 percent. Notably, in April 2025 too, wholesale inflation for potatoes was -23.93 percent, while onions recorded inflation of 0.20 percent.
Wholesale inflation in fruits stood at -0.21 percent, while milk inflation was recorded at 2.56 percent.
Wholesale inflation in wheat remained negative from November 2025 to March 2026. Pulses, potatoes, and onions have been witnessing negative inflation for the last six months, indicating that their wholesale prices remain lower than last year.