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Oil casts a shadow on WPI inflation
April 2026 WPI inflation rose to 8.3% driven largely by fuel prices, after February and March readings of 2.3% and 3.9% respectively. CPI inflation remained relatively flat at 3.2% (Feb), 3.4% (Mar), and 3.5% (Apr), as retail fuel prices were kept largely unchanged. The report highlights a divergence between WPI and CPI and questions policy on fuel pricing and pass-through.
Why It Matters
CPI is the policy anchor, so the divergence with WPI could distort monetary policy signals. The article calls for clear government stance on fuel pricing to inform markets and guard against fiscal strain.
Timeline
9 Events
Article published: Oil casts a shadow on WPI inflation
May 14, 2026
The article published on May 14, 2026 discusses the divergence between WPI and CPI, attributes the WPI rise to fuel prices, and raises questions about the government's stance on retail fuel pricing and policy signals to markets.
April 2026 WPI rise: 4.4 percentage-point jump from March
April 2026
The sequential increase between March and April 2026 is 4.4 percentage points, the highest monthly increase ever recorded in the current series (data since April 2012).
WPI 8.3% in April 2026
April 2026
WPI grew by 8.3% in April 2026, with almost all of the increase attributed to fuel prices.
CPI 3.5% in April 2026
April 2026
CPI inflation was 3.5% in April 2026.
CPI 3.4% in March 2026
March 2026
CPI inflation was 3.4% in March 2026.
WPI 3.9% in March 2026
March 2026
WPI grew by 3.9% in March 2026.
CPI 3.2% in February 2026
February 2026
CPI inflation was 3.2% in February 2026.
WPI 2.3% in February 2026
February 2026
WPI grew by 2.3% in February 2026.
WPI data series begins in April 2012
April 2012
The current WPI data series has data from April 2012, marking the start of the ongoing tracking of wholesale inflation.