India’s wholesale prices fall 0.32% in November vs 1.21% contraction in October

Government data released on Monday showed India’s wholesale price inflation contracted by 0.32% year-on-year in November. The main reason for this was the decline in food prices, mineral oils, crude oil and natural gas prices.

While Wholesale Price Index (WPI) based inflation decreased by 1.21% in October, it increased to 0.19% in September.

WPI Food Index

Inflation rate (annual change) based on WPI Food Index increased from (-)5.04% in October to (-)2.60% in November 2025.
The Food Index, which consists of foodstuffs and food products, increased from 192.0 in October 2025 to 195.0 in November 2025.

The Ministry of Trade and Industry noted that the prices of minerals (4.50%), food products (2.50%) and non-food products (1.28%) increased in November compared to the previous month. However, crude oil and natural gas prices (-1.62%) fell in November.