Wholesale price inflation rate falls further to (-) 0.39% in January

news
16 February 2015

The annual rate of inflation, based on the wholesale price index (WPI) stood at (-) 0.39 per cent in January 2015, against 0.11 per cent in the previous month, as inflation continued to fall for a second consecutive month, provisional estimated released today showed.

WPI inflation stood at 5.11 per cent during the corresponding month of the previous year.

Build-up inflation rate in the financial year so far was (-) 1.11 per cent, compared to a build-up of 5.23 per cent in the corresponding period of the previous year.
 
The index for the primary articles group, which has a weight of 20.12 per cent in the WPI, declined by 1.0 per cent during January 2015.

Among primary articles, the index for the 'food articles' group declined by 0.1 per cent due to lower prices of egg, jowar, meat, fish and fruits and vegetables. However, the prices of urad, masur and gram, arhar, moong, barley, maize, bajra, ragi, wheat, fish, pork and condiments and spices moved up.
 
The index for the 'non-food articles' group declined by 0.7 per cent due to lower prices of flowers, cotton seed, raw silk, raw cotton, sunflower, gingelly seed and castor seed and fodder. However, the prices of niger seed, raw rubber, copra (coconut), soyabean, rape and mustard seed, mesta, gaur seed and groundnut seed moved up.
 
The index for the `minerals' group declined by 7.6 per cent due to lower prices of barites, copper ore, crude petroleum, magnesite and manganese ore. However, the price of zinc concentrate, steatite and limestone, phosphorite and sillimanite moved up.
 
The index for the `fuel and power' group (weight of 14.91 per cent in WPI) declined by 2.5 per cent due to lower prices of aviation turbine fuel, furnace oil and petrol and high speed diesel.
 
The index for the `manufactured products group (weight of 64.97 per cent in WPI) declined by 0.3 per cent in January 2015.

Among manufactured products, the index for the 'food products' group declined by 0.6 per cent due to lower price of tea, oil cakes, sugar and khandsari and sunflower oil. However, the prices of groundnut oil, sugar confectionary, coconut oil, mustard and rapeseed oil and wheat flour (atta) and sooji (rawa), mixed spices, rice bran oil, maida, teadust, palm oil and soyabean oil moved up.
 
The index for the 'beverages, tobacco and tobacco products' group rose 0.1 per cent due to higher prices of dried tobacco and soft drinks and carbonated water. However, the price of rectified spirit declined.
 
The index for the 'textiles' group declined by 1.2 per cent due to lower prices of cotton yarn,  manmade fabric and manmade fibre and cotton fabric. However, the prices of tyre cord fabric, gunny and hessian cloth and jute sacking cloth, jute sacking bag and jute yarn moved up.
The index for the 'paper and paper products' group rose 0.1 per cent due to higher price of books/periodicals/journals and corrugated sheet boxes. However, the price of paper pulp and printing and writing paper declined.
 
The index for the 'leather and leather products' group declined due to lower price of leathers  and leather footwear.
 
The index for the 'rubber and plastic products' group declined due to lower prices of rubber transmission belt, plastic/PVC shoes, plastic/PVC pipes, rubber footwear and plastic/LDPE/polythene bag, plastic films and sheets, plastic bottles, polyester film, plastic/PVC chappals and HDPE bag.
 
The index for the 'chemicals and chemical products' group declined by 0.5 per cent due to lower price of rubber chemicals, non-cyclic compound, synthetic resin and basic organic chemicals and basic inorganic chemicals. However, the price of organic manure, hair/body oils, tooth paste / tooth powder and castor oil, diammonium phosphate and pesticides moved up.
 
The index for the 'non-metallic mineral products' group rose by 0.6 per cent due to higher price of grey cement and asbestos corrugated sheet, glass bottles and bottleware and lime.  However, the price of bricks and tiles, marbles and slag cement declined.
 
The index for the 'basic metals, alloys and metal products' group declined by 0.1 per cent due to lower prices of slab, pig iron, zinc and steel structures, ferro silicon, steel rods, CRC, angles, rebars, silver and HRC. However, the price of iron castings, nuts/bolts/screw/ washers and pipes/tubes/rods/strips, gold and gold ornaments, sheets, plates and billets moved up.
 
The index for the 'machinery and machine tools' group rose by 0.2 per cent due to higher prices of heating elements and industrial furnaces, electric motors, thresher, electric generators, lamps, electronic PCB /micro circuit, washing / laundry machines, earth moving machinery and ball/roller bearing. However, the price of heat exchangers declined.
 
The final inflation rate for November, based on the revised wholesale price index for 'all commodities' stood at (-) 0.17 per cent compared to 0.00 per cent reported earlier.





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