India WPI hits 42-month high of 8.3% as West Asia war drives energy, packaging costs
April wholesale inflation jumped from 3.88% to 8.3%, with ATF doubling MoM, naphtha up 67%, and petrol up 24%. Cigarettes, plastic packaging, and edible oils rose sharply. Economists warn retailers face input cost pass-through pressure; CareEdge sees FY27 WPI at 7.8% even as CPI sits at 3.48%.
What happened
India WPI · India's April WPI inflation hit a 42-month high of 8.3%, driven by West Asia war energy costs. Cigarettes, plastic packaging, edible oils rose;
Key facts
- WPI 8.3% YoY April
- up from 3.88% March
- 42-month high
- ATF +100% MoM
- naphtha +67%
- petrol +24%
- cigarettes +5% MoM
- core inflation 5%
- CPI 3.48%
- FY27 WPI forecast 7.8%
Why this matters
Acquisition multiples for packaging-intensive targets should compress as input cost volatility extends through FY27, opening windows for vertical integration deals in plastics and edible oils.