Wholesale price inflation a tad higher at (-) 0.73% in December

news
15 January 2016

The annual rate of inflation, based on the wholesale price index (WPI) stood at (-) 0.73 per cent year-on-year in December 2015 compared to (-) 1.99 per cent in November 2015, provisional estimates by the Central Statistics Office (CSO) showed.

WPI inflation rate stood at (-) 0.50 per cent during the corresponding month of the previous year.

Build-up of inflation rate in the financial year so far was 0.74 per cent compared to a build up rate of (-) 0.89 per cent in the corresponding period of the previous year.

Inflation rate for the primary articles group, which has a weight of 20.12 per cent in the wholesale price index, rose by 0.5 per cent during the month.

Among primary articles, the index for the 'food articles' group rose 0.6 per cent due to higher price of poultry chicken, fish-inland, beef and buffalo meat, pork, egg, tea, fish, condiments and spices, wheat, bajra, jowar, maize, barley, urad and arhar.  However, the price of moong, masur, fruits and vegetables and mutton declined.

The index for the 'non-food articles' group rose 1.0 per cent due to higher price of mesta, flowers, raw jute, linseed, groundnut seed, niger seed, rape and mustard seed, sunflower, raw wool, fodder and raw cotton. However, the price of guar seed, castor seed, soyabean and gingelly seed, raw rubber, coir fibre, copra (coconut) and cotton seed declined.

Inflation rate for  the 'minerals' group declined by 2.4 per cent due to lower price of iron ore, zinc concentrate and manganese ore. However, the price of sillimanite and copper ore moved up.

Inflation rate for the fuel and power group, which has a weight of 14.91 per cent in the WPI, declined by 0.6 per cent due to lower prices of furnace oil, bitumen and petrol and aviation turbine fuel. However, the price of LPG moved up.

Inflation rate for the manufactured group, which has a weight of 64.97 per cent in the WPI, declined by 0.3 per cent year-on-year during the month.

Among manufactured products, the index for the 'food products' group rose 0.3 per cent due to higher price of tea dust (unblended), gram powder (besan), cotton seed oil, canned fish, soyabean oil, mixed spices, processed prawn, mustard and rapeseed oil, sugar, wheat flour (atta), groundnut oil, palm oil, maida, sugar confectionary, gola (cattle feed) and bakery products.

However, the price of powder milk, tea leaf (blended) and gur, sooji (rawa), oil cakes and sunflower oil and gingelly oil, tea leaf (unblended), copra oil and khandsari declined.

Inflation rate for the 'beverages, tobacco and tobacco products' group declined by 0.4 per cent due to lower price of bidi. However, the price of zarda and dried tobacco moved up.

Inflation rate for the 'textiles' group declined by 0.1 per cent due to lower price of manmade fabric and cotton yarn. However, the price of jute sacking cloth, jute yarn and gunny, hessian cloth, tyre cord fabric, jute sacking bag and cotton fabric moved up.

Inflation rate for the 'wood and wood products' group declined by 0.7 per cent due to lower price of processed wood.

Inflation rate for the 'paper and paper products' group rose by 0.2 per cent due to higher price of paper cartons / boxes and books / periodicals / journals and newsprint. However, the price of corrugated sheet boxes declined.

Inflation rate for the 'leather and leather products' group rose 0.4 per cent due to higher price of leather garments and jackets.

Inflation rate for the 'rubber and plastic products' group declined by 0.3 per cent due to lower price of plastic products.
 
Inflation rate for the 'chemicals and chemical products' group declined by 0.5 per cent due to lower price of antibiotics, hair / body oils and non-cyclic compound, pesticides, polymers, urea, rubber chemicals, photographic goods and explosives.  However, the price of synthetic resin, pigment and pigment intermediates and safety matches/match box moved up.

Inflation rate for the 'non-metallic mineral products' group rose 0.3 per cent due to higher price of polished granite, bricks and tiles. However, the price of marbles      declined.

Inflation rate for the 'basic metals, alloys and metal products' group declined by 1.2 per cent due to lower price of pig iron, angles, plates, melting scrap, HRC, pencil  ingots, CRC, joist and beams, GP/GC sheets, billets, rounds, ferro silicon and steel - pipes and tubes - sponge iron, rebars, wire rods, steel rods, copper / copper ingots and steel castings. However, the price of zinc sheets, ferro chrome and ferro manganese moved up.

Inflation rate for the 'transport, equipment and parts' group rose 0.1 per cent due to higher price of auto rickshaw / tempo/matador.

Meanwhile, the CSO has revised the final index for October 2015 to (-) 3.70 per cent from (-) 3.81 per cent (provisional), based on the final wholesale price index for 'all commodities'.





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