India’s wholesale price inflation turned marginally negative in June 2025, coming in at -0.13% year-on-year (YoY)as per data released by the Ministry of Commerce & Industry on Monday, July 14. This marks a notable moderation from the 0.39% inflation recorded in May and 0.85% in April.
The drop in wholesale prices was driven mainly by lower prices of food articles, mineral oils, crude petroleum, and basic metals, the ministry said. The Wholesale Price Index (WPI) for all commodities stood at 153.8 in June, compared to 154.1 in May.
All commodities WPI inflation (YoY): -0.13% in June, down from 0.39% in May.
Food index inflation (YoY): fell to -0.26% in June from 1.72% in May.
Primary articles inflation (YoY): fell sharply to -3.38% from -2.02% in May.
Fuel & power inflation (YoY): contracted by 2.65% compared to 2.27% in May.
Manufactured products inflation (YoY): eased slightly to 1.97% from 2.04% in May.
On a month-on-month (MoM) basis, the WPI fell 0.19% in June compared to May, with declines in fuel & power (-2.52%) and manufactured products (-0.07%), while primary articles rose 0.81%.
The food index, which combines food articles and food products, edged down to 190.2 in June from 189.5 in May. Vegetable prices, in particular, registered a sharp fall of 22.65% YoYwhile pulses saw a 14.09% YoY decline.
Fuel and power prices also continued to weigh on the headline number, as the index for this category fell to 143.0a YoY decline of 2.65%led by a drop in electricity and mineral oil prices.
The ministry noted that the subdued WPI inflation reflects continued weakness in food, energy, and commodity prices. It also highlighted that provisional WPI figures undergo revision, and the final figures for April showed inflation at 0.85%based on a 96.2% response rate.
The next set of WPI data — for July 2025 — will be released on August 14, 2025.
For more details, the full press release is available on the PIB website.
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