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India’s wholesale inflation falls to 1.21% in October signalling deflationary risk
India’s WPI inflation turns 1.
India’s wholesale price inflation (WPI) slid into negative territory at 1.21 % in October 2025, down from 0.13 % in September, according to the Ministry of Commerce & Industry. The decline was driven by lower commodity, fuel and food prices.
Economists warn that persistent WPI contraction may squeeze manufacturing margins, delay investment and signal embedded weak demand ahead of upcoming policy reviews by the Reserve Bank of India.