Desk note · industry · Inflation / WPI
On 15 October 2026, ICICI Bank research said India’s wholesale price index inflation rose to 11.4% year on year in September from 9.9% in August, driven by fuel, manufactured goods, and food, and could remain elevated through FY2026–27.
On 15 October 2026, ICICI Bank economists published a note on India’s wholesale price index after September data. WPI inflation accelerated to 11.4% year on year from 9.9% in August 2026. The comparison looks sharp partly because inflation was minus 0.2% in September 2025, a low base. Fuel and power inflation reached 26%, with mineral oils up about 40%. Manufactured products inflation climbed to 9.8%, the highest in 30 months, led by basic metals, chemicals, textiles, and rubber and plastics. Food pressure persisted: primary food articles inflation was 8.1%, vegetables 16.5%, and condiments and spices hit a series high of 34.3% on items such as garlic and onions.
Wholesale prices measure what factories and farms charge before retail markups and taxes. When WPI runs hot on fuel and metals, manufacturers often try to pass costs into MRPs over the following months. The bank flagged global crude averaging near USD 94.6 per barrel so far in the financial year against about USD 69 in FY26, plus a below-normal monsoon risk for cereals and pulses. That combination is why the report expects wholesale inflation to stay elevated through financial year 2026–27 even after the Reserve Bank of India tightened policy in October.
Households feel WPI indirectly through fuel bills, packaged food, and durables. If you run a small factory or shop, input quotes for steel, chemicals, and transport are moving faster than last year. Fixed-income savers should note that high wholesale inflation can keep pressure on bond yields and delay rate cuts. Watch October retail CPI prints, government food releases, and whether OEMs such as CEAT announce another round of product price hikes after this WPI reading.
Telecom / IPO
On 22 October 2026, exchange data showed Jio Platforms’ ₹30,213 crore issue had drawn about ₹3.73 lakh crore of total bids by late evening on Day 2, with the retail portion oversubscribed and market commentators citing diverted cash from other listed stocks during the book build.
SEBI / market infrastructure
On 22 October 2026, the Securities and Exchange Board of India proposed letting stock exchanges and depositories fund core-market and regulator-mandated initiatives without prior approval for each ticket, while keeping board oversight and financial safeguards and inviting comments until 12 November.
E-commerce / food delivery
On 22 October 2026, reporting said Flipkart is testing an internal food delivery product called Eat-in by Minutes with more than 8,000 employees in Bengaluru, using Ekart logistics as it prepares to compete with Zomato and Swiggy in meal delivery.
Digital trust / compliance
On 22 October 2026, eMudhra Ltd said its board will voluntarily withdraw from the global SSL/TLS certificate segment after a key-security incident on eight intermediate certificates, citing compliance cost and weak economics while stressing that other digital-trust services continue.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.