India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
India's wholesale price inflation surged to 3.88 per cent in March, marking the fifth consecutive monthly increase, primarily driven by a sharp rise in crude petroleum, natural gas, and manufactured items amidst the West Asia crisis.
India's retail inflation is the highest among the BRICS group of emerging economies.
Wholesale price inflation (WPI) fell to (-) 1 .21 per cent in October, driven by a decline in prices of food articles like pulses and vegetables, as well as lower fuel and manufactured items' prices, government data showed on Friday.
Petrol and diesel prices in India have been increased by Rs 3 per litre each, marking the first rate hike in over four years. This decision follows a period of stable prices during recent state elections, despite rising global crude oil prices and significant losses for fuel retailers.
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
A foreign brokerage warns that sustained crude oil prices above USD 100 per barrel could push India's inflation above the RBI's tolerance level, potentially triggering interest rate hikes.
Petrol and diesel prices have been increased by Rs 3 per litre each, marking the first hike in over four years, as state-run fuel retailers pass on some of the impact from surging global crude prices, which have been exacerbated by the Iran war.
Wholesale price inflation rose to 2.37 per cent in December 2024, led by spike in manufactured products even though prices of food items eased, government data released on Tuesday showed.
India's retail inflation marginally increased to 3.4 per cent in March, up from 3.21 per cent in February, primarily due to an uptick in certain food items and the initial impact of the West Asia crisis on fuel prices, according to government data.
Amul and Mother Dairy, India's largest dairy product retailers, have increased milk prices by Rs 2 per litre, marking the second such hike in 13 months. This move is expected to intensify inflationary pressures, already fuelled by global conflicts, and will impact household budgets across the country.
Wholesale price inflation dropped to 0.85 per cent in April as prices of food articles, manufactured products, and fuel eased, government data showed on Wednesday. WPI-based inflation was 2.05 per cent in March. It was 1.19 per cent in April last year.
Wholesale price inflation marginally rose to 2.38 per cent in February due to expensive manufactured food items like vegetables oil and beverages, government data released on Monday showed. The Wholesale Price Index (WPI) based inflation was 2.31 per cent in January. It was 0.2 per cent in February 2024.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
Wholesale price inflation moderated to 2.31 per cent in January due to the decline in prices of food items especially vegetables, government data released on Friday showed. The Wholesale Price Index (WPI) based inflation was 2.37 per cent in December 2024. It was 0.33 per cent in January 2024.
Increased input costs due to geopolitical conflict in West Asia and unseasonal rain in March negatively impacted volumes of consumer durables makers, particularly air conditioners, in Q4FY26, leading to projected declines in EBITDA and APAT despite revenue growth.
India's main inflation measure, the Consumer Price Index (CPI), is set for another major update, even though it has been in its current form for only about 15 years.
Wholesale price inflation rose to a 4-month high of 2.36 per cent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, as per the government data released on Thursday. The wholesale price index (WPI) based inflation was 1.84 per cent in September 2024. It was (-) 0.26 per cent in October, last year.
Godrej Consumer Products Ltd (GCPL) delivered a robust Q4FY26 performance, with steady demand in India and signs of stabilisation in international markets, despite persistent inflationary pressures. The company expects to maintain profitability in FY27 through strategic cost management and pricing adjustments.
Hindustan Unilever (HUL) exceeded consensus estimates in Q4FY26, driven by lower overheads and 6 per cent consolidated volume growth. However, the company anticipates further price hikes to counter an expected 8-10 per cent material cost inflation, while maintaining a mid-term margin guidance of 22.5-23.5 per cent.
India's net oil import bill could rise by $56 billion to $64 billion annually assuming global crude averages $110 to $115 per barrel in FY27.
A prolonged supply shock can transmit to lower incomes, and dampen confidence and sentiment, warns Aditi Nayar, chief economist, head-research and outreach, ICRA.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
The Indian government has extended the Reserve Bank of India's (RBI) mandate to maintain retail inflation at 4 per cent, with a tolerance band of 2 per cent on either side, for another five years until March 2031.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
The Reserve Bank of India (RBI) has opted to keep its key interest rates unchanged at 5.25%, anticipating a global economic recovery following a ceasefire in the US/Israel-Iran conflict, despite ongoing inflationary pressures and currency fluctuations.
India's services sector growth reached a five-month high in April, with the HSBC India Services PMI Business Activity Index rising to 58.8, primarily driven by robust domestic demand and a shift from international to local suppliers amidst the West Asia crisis.
The Indian rupee gained 2 paise to settle at 93.33 against the US dollar, driven by positive sentiment in domestic equity markets and renewed hopes for US-Iran talks, despite rising WPI and CPI inflation.
WPI inflation data, trading activity of foreign investors and global cues would dictate trends in the stock market this week, analysts said.
Wholesale price inflation remained in the negative territory for the fourth month in a row in July at (-)1.36 per cent, even though prices of food items, especially vegetables, skyrocketed. The inflation, however, has inched up from (-)4.12 per cent recorded in June fuelled by 62.12 per cent rise in vegetable prices. In July last year, wholesale price index (WPI) was 14.07 per cent.
Consumer price-based index of products consumed by agricultural labourers rose to 17.21 per cent in December compared to 15.65 per cent in previous month, a Labour Bureau statement said on Wednesday. However, inflation measured by wholesale prices was 7.31 per cent in December.
The Reserve Bank of India (RBI), in its quarterly monetary and macroeconomic review, has expressed concerns on the existing high levels of inflation rate when based on the consumer price index (CPI).
Retail inflation stood at 2.75 per cent in January under the new series of All India Consumer Price Index (CPI), with 2024 as the base year, released on Thursday.
Indian oil marketing companies are incurring significant losses, selling petrol at a Rs 14 per litre loss and diesel at Rs 18 per litre, as elevated global crude oil prices, exacerbated by the West Asia crisis, outpace capped retail fuel rates, according to rating agency Icra.
The gems and jewellery industry anticipates challenging times following the government's decision to increase gold import duty to 15 per cent, a move that exporters warn could fuel the grey market and heighten smuggling risks.
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
India's state-run oil marketing companies (OMCs) are projected to incur under-recoveries of approximately Rs 80,000 crore on liquefied petroleum gas (LPG) sales in FY27 if current loss levels persist, according to rating agency Icra.
'PM Modi is trying to reduce the volume of fuel consumed instead of raising prices sharply.'
'... with the rest split between mid and smallcaps, as valuations are becoming more attractive across segments.'
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