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India’s wholesale inflation story turned a corner in August. Wholesale prices rose 0.52% year-on-year, bouncing back from July’s steep 0.58% decline and topping market expectations of a 0.30% rise. The driver was food, which inched up 0.21% after a sharp 2.15% fall earlier. Wheat prices shot up 4.75%, while milk rose 2.58%, though pulses (-14.85%) and paddy (-0.84%) continued to ease. Manufacturing costs also increased, with inflation at 2.55%, the fastest pace in four months

As we wrap up another week, let’s dive into some of the key economic developments both at home and abroad. In India , industrial production showed a modest 1.5% year-on-year growth in June 2025, which, although an improvement from the 1.2% growth in May, still fell short of expectations for a 2% increase. This slower growth marks the lowest expansion since August 2024, with manufacturing output driving most of the gains (3.9% vs 3.2% in May). On the flip side, the mining and