WPI Inflation Remains Negative in November, RBI Sees Comfort on Price Front

December 15, 2025

New Delhi: India’s wholesale price inflation (WPI) stayed in the negative zone in November, signalling continued relief on the inflation front and a benign outlook for the economy.

WPI, CPI Trends Show Cooling Prices
According to data released by the Commerce and Industry Ministry, WPI inflation stood at (-)0.32% in November, compared to (-)1.21% in October and 2.16% in November last year.
The ministry attributed the negative inflation mainly to falling prices of food articles, mineral oils, crude petroleum, natural gas, basic metals and electricity.

Meanwhile, consumer price inflation (CPI) was estimated at 0.71% in November, slightly higher than 0.25% in October, as per the Ministry of Statistics.

Food Inflation Eases for Sixth Straight Month
Food inflation remained in the negative zone at (-)3.91% in November, marking the sixth consecutive month of declining food prices. The sustained fall has helped ease pressure on household budgets.

RBI Cuts Forecast, Lowers Repo Rate
With inflation cooling further, the Reserve Bank of India revised its inflation forecast for FY26 to 2% from 2.6% earlier. RBI Governor Sanjay Malhotra also announced a 25-basis-point cut in the repo rate to 5.25%, citing softer inflation and stronger growth prospects.

He noted that India is witnessing a rare “Goldilocks period,” backed by 8.2% economic growth in Q2 and inflation falling to 1.7%. Improved food supply conditions, healthy crop output and easing global commodity prices are expected to keep inflation under control going forward.