Non-Metallic Mineral Products Surge 16.73% After Last Year’s Decline

The Wholesale Price Index (WPI) for July–August 2025/26 shows a dramatic rebound in Non-Metallic Mineral Products, which surged by 16.73% compared to June–July 2025. This recovery comes after a sharp decline in the previous year, when prices had fallen -20.27% in 2023/24 and continued to slide by -11.00% into early 2024/25.

The wholesale index for this category rose to 107.47 in July–August 2025/26, up from 92.07 a year earlier, signaling a significant price correction. This group includes cement, bricks, tiles, and other essential inputs for construction, making it a crucial driver of building and infrastructure costs. The rebound reflects a mix of rising demand from construction projects, supply-chain adjustments, and cost pressures in raw materials.

The sharp recovery highlights how volatile this sector has become. During the downturn, weak construction activity and oversupply had dragged prices down. Now, with renewed infrastructure investment, urban housing growth, and rising imports of inputs, wholesale prices are surging. For builders and contractors, this means higher input costs that could raise the overall expense of housing and infrastructure projects. For households, it signals a possible increase in real estate prices as higher wholesale costs filter into consumer markets.