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WPI jumps to 8.3 percent in April 2026 fuelled by oil shock and metal rally warns Bank of Baroda
Economy
Published on 16 May 2026
Fuel inflation rockets to a 42 month high—again
India’s Wholesale Price Index accelerated to 8.3% in April 2026, the highest since October 2022, driven mainly by fuel and manufactured goods. Fuel and power inflation surged to 24.7%, led by a steep rise in mineral oils as global crude prices climb amid the US-Iran conflict and Gulf shipping disruptions. Core WPI hit 5%. While food inflation eased to 2.3% due to weak foodgrain and pulses, international food prices are moving up, raising risk of a later rebound.
- WPI inflation hit 8.3% in April 2026, highest since Oct 2022
- Fuel and power inflation jumped to 24.7% YoY from a prior contraction
- International crude oil prices rose 54.2% YoY, compounded by rupee depreciation
- Manufactured products inflation reached 4.6% YoY, led by basic metals and machinery
- Aluminium inflation surged 19.2% YoY; copper held steady at 15.3%
- Food inflation eased to 2.3% YoY, but international wheat and rice trends may reverse it
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times