Wholesale inflation down 2.33% in March as prices fall for a fifth month

news
15 April 2015

Wholesale prices declined at a faster rate of 2.33 per cent in March, with the wholesale price index (WPI) registering the fifth straight fall, on the back of low oil and manufacturing prices, official data released today showed.

WPI had declined by 2.06 per cent (provisional) in February and by 0.95 per cent (revised from 0.39 per cent) in January.

The official wholesale price index for 'all commodities' (Base: 2004-05 = 100) for March 2015 rose 0.2 per cent compared to the previous month while the annual rate of inflation, based on monthly WPI, stood at -2.33 per cent (provisional) for the month.

WPI inflation stood at 6.00 per cent during the March last year.

Build-up of inflation rate in the financial year so far was -2.33 per cent compared to a build-up rate of 6.00 per cent in the corresponding period of the previous year.

The index for the `primary articles' group, which has a weight of 14.91 per cent in the WPI, declined by 1.0 per cent year-on-year in March 2015.

Among primary articles, the index for the 'food articles' group declined by 0.4 per cent due to lower price of tea, moong, coffee, egg, rice, pork, jowar, barley, fish, fruits and vegetables, condiments and spices and beef (buffalo meat). However, the price of arhar, poultry chicken, mutton, fish and maize, ragi, bajra and gram, masur and milk moved up.

The index for 'non-food articles' group declined by 1.8 per cent due to lower price of flowers, fodder, gingelly seed, guar seed, castor seed, raw silk, coir fibre, raw rubber, soyabean and linseed. However, the price of niger seed, sunflower, groundnut seed, mesta, copra (coconut) and raw cotton moved up.

The index for the 'minerals' group declined by 3.7 per cent due to lower price of zinc concentrate, iron ore, copper ore, sillimanite, magnesite, phosphorite, manganese ore and steatite. However, the price of barytes, chromite and crude petroleum moved up.

The index for the `fuel and power' group rose 3.3 per cent due to higher price of aviation turbine fuel, furnace oil, high speed diesel, petrol, naphtha and kerosene.  However, the price of bitumen declined.

The index for the `manufactured products' group, which has a weight of 64.97 per cent in the index, declined by 0.1 per cent in March 2015.

Among manufactured products group, the index for the 'food products' group declined by 0.4 per cent due to lower price of teas, wheat flour, confectionary, sugar and khandsari, gingelly oil, soyabean oil, powder milk, maida and cotton seed oil.

However, the price of gram flour (besan), bakery products, processed prawn, oil cakes and mixed spices, copra oil, sunflower oil and groundnut oil moved up.

The index for the 'beverages, tobacco and tobacco products' group rose 0.6 per cent due to higher price of soft drinks and carbonated water and cigarette. However, the price of dried tobacco declined.

The index for the 'textiles' group declined by 0.2 per cent due to lower price of man-made fabric and man-made fibre, cotton yarn and tyre cord fabric. However, the price of gunny and hessian cloth and cotton fabric, jute sacking cloth, jute sacking bag and jute yarn moved up.

The index for the 'wood and wood products' group declined by 0.1 per cent due to lower price of processed wood.

The index for the 'paper and paper products' group rose 0.7 per cent due to higher price of kraft paper and bags, newsprint, laminated paper and paper cartons / boxes. However, the price of newspaper declined.

The index for the 'leather and leather products' group declined by 0.8 per cent due to lower price of leather garments and jackets and leather footwear.

The index for the 'chemicals and chemical products' group rose by 0.3 per cent due to higher price of shampoo and lacquer and varnishes, non-cyclic compound and basic organic chemicals and urea, castor oil and antacid and  digestive preparations. However, the price of photographic goods and ayurvedic medicines  declined.

The index for the 'non-metallic mineral products' group rose by 0.7 per cent due to higher price of grey cement and glass bottles and bottleware. However, the price of marbles and bricks and tiles and railway sleeper declined.

The index for the 'basic metals, alloys and metal products' group declined by 0.7 per cent due to lower prices of melting scrap, pig iron and plates, sponge iron, GP/GC sheets, CRC, ferro silicon, rounds and pipes/tubes/rods/strips and wire rods, aluminium, HRC, gold and gold ornaments, angles, joist and beams, billets, silver and ferro chrome. However, the price of steel castings and sheets moved up.

The index for the 'transport, equipment and parts' group declined by 0.1 per cent due to lower price of motor cycle /scooter / moped.





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