Wholesale price-based inflation rose to 9.92% in August, compared to 9.78% in July, on rising prices of food, manufactured items, and fuel and power, government data showed on Monday.

Inflation in the food index rose to 7.05% in August, from 6.65% in July.

In manufactured items, WPI inflation was at a series high of 8.37%, higher than 8.29% in July.

In the fuel and power basket, wholesale price index (WPI)-based inflation was 22.93%.

“Across groups, mineral oils [containing petroleum products], food articles, manufacture of food products, manufacture of basic metals, non-food articles, and manufacture of chemicals and chemical products have been major drivers of WPI inflation in August 2026,” the Commerce and Industry Ministry said while releasing the WPI data.

The WPI has been on an upward trajectory since the beginning of this fiscal year as the West Asia war and the resultant blockade of the Strait of Hormuz, through which the majority of crude oil is imported into India, pushed up global crude and fertiliser costs with a spillover effect on food prices.

The Reserve Bank’s monetary policy committee, last month, kept benchmark policy rates unchanged at 5.25% and projected retail inflation at 5% for FY27, citing deficient and uneven South-West monsoon amidst El Nino conditions.