Wholesale Price Inflation declines to (-)1.21% in October 2025 (Y-o-Y), driven largely by a sharp fall in primary articles: PHDCCI - PHD Chamber

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Wholesale Price Inflation declines to (-)1.21% in October 2025 (Y-o-Y), driven largely by a sharp fall in primary articles: PHDCCI - PHD Chamber

PHDCCI Headquaters

PR No – 13

17th November 2025

New Delhi

Wholesale Price Inflation declines to (-)1.21% in October 2025 (Y-o-Y), driven largely by a sharp fall in primary articles: PHDCCI

New Delhi, 17^th November 2025: Wholesale Price Inflation (Provisional estimates) entered into negative territory in October 2025 to (-)1.21% from 2.75% in October 2024 on year on year basis primarily due to decrease in prices of food articles, crude petroleum & natural gas, electricity, mineral oils and manufacture of basic metals, among others, said Mr. Rajeev Juneja, President, PHDCCI, in a press statement issued here today.

The Primary Articles group (weight: 22.62%) witnessed a sharp contraction of (-) 6.18% in October 2025, compared with 8.26% in October 2024. Within this, food articles (15.25%) experienced a significant decline, with inflation falling from 13.49% in October 2024 to (-)8.31% in October 2025. This downturn has been driven by a marked reduction in prices of food grains, fruits and vegetables on a year-on-year basis, said Mr. Juneja.

In the Fuel & Power category (weight: 13.15%), easing prices of crude petroleum & natural gas and electricity contributed to a moderation in inflation, improving from (-)4.31% in October 2024 to (-)2.55% in October 2025.

Manufactured products (64.23%) registered a marginal increase in prices by 1.54% from October 2024 to October 2025. The major contributors to this inflation were manufactured food products, textiles, Chemicals and Chemical Products and Basic Metals, which constitute 30% of the manufacturing products index, added Mr. Juneja.

We expect WPI inflation to remain range-bound due to benign international crude oil prices, comfortable buffer stocks of food-grains and healthy kharif harvest, said Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI.

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