New Delhi, Sept. 10 -- India's wholesale inflation is likely to be moderated marginally in August, but the near-term outlook remains clouded by rising food prices, a rainfall deficit, elevated crude oil prices and persistent core cost pressures, according to a Union Bank of India (UBI) Research report.

UBI Research estimates Wholesale Price Index (WPI) inflation at 9.34 per cent year-on-year in August 2026, down from 9.78 per cent in July, largely due to a sharp moderation in fuel inflation. However, food inflation is estimated to have accelerated to 8.14 per cent from 6.64 per cent in July, while core WPI remained elevated at 8.93 per cent.

Looking ahead, the report warned that wholesale inflation could remain elevated as domestic weat...