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Wholesale Price Index Slips Into Deflation

Kumari Sonali

Wholesale Price Index Slips Into Deflation:

India’s Wholesale Price Index (Base Year: 2011–12) fell to a 27-month low in October 2025, slipping into deflation at –1.21%, compared to –0.13% in September. The drop was driven by lower prices of food items and crude petroleum, softer fuel and manufactured goods prices, and the impact of 2025 Goods and Services Tax (GST) reforms.Deflation is the opposite of Inflation. It refers to a sustained and general decrease in the overall price levels of goods and services in the economy.

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