WPI a tad lower at 3.57% in September

news
17 October 2016

The annual rate of inflation based on the wholesale price index stood lower at 3.57 per cent in September 2016 compared to 3.74 per cent in the previous month and (-) 4.59 per cent during the corresponding month of the previous year, provisional figures released on Saturday showed.

Build-up of the inflation rate in the financial year so far stood at 4.28 per cent compared to a build-up rate of 0.23 per cent in the corresponding period of the previous year, official data released by the Central Statistics Office (CSO) showed.

Inflation rate for the 'primary articles' group, which has a weight of 20.12 per cent in the wholesale price index (WPI) declined by 1.9 per cent in September 2016.

Among primary articles, inflation rate for the 'food articles' group declined by 1.6 per cent in September 2016 due to lower prices of urad, arhar, moong, masur, gram and bajra, poultry chicken, mutton, fish, condiments and spices, barley and egg. However, the price of fish (sweet water), tea, jowar, coffee, ragi, wheat and milk moved up.

Inflation rate for the 'non-food articles' group declined by 2.5 per cent due to lower prices of raw rubber, groundnut seed, soyabean, raw cotton, mesta, flowers, guar seed, raw jute and gingelly seed, hides (raw) and linseed. However, the price of raw silk, sunflower, copra, castor seed, coir fibre and safflower (kardi seed) moved up.

Inflation rate for the 'minerals' group declined by 2.7 per cent due to lower prices of copper ore, magnesite, manganese ore, iron ore and phosphorite and crude petroleum. However, the price of limestone, zinc concentrate and chromite and sillimanite moved up.

Inflation rate for the 'fuel and power'  group, which has a weight of 14.91 per cent in the wholesale price index, rose by 1.8 per cent due to higher prices of furnace oil and petrol, high speed diesel, kerosene and bitumen. However, the price of aviation turbine fuel declined.

Inflation rate for the 'manufactured products' group, which has a weight of 64.97 per cent in the wholesale price index, rose 0.3 per cent in September 2016.

Among manufactured products, the inflation rate for the 'food products' group rose 0.6 per cent due to higher prices of gram powder (besan), coffee powder, processed prawn, wheat flour, maida, cotton seed oil, groundnut oil, rice bran oil, sunflower oil, canned fish, mustard & rapeseed oil, sooji (rawa), palm oil, powder milk and gur. However, the price of tea dust (unblended) and gingelly oil, tea leaf (unblended), oil cakes and tea dust (blended) declined.

Inflation rate for the 'textiles' group rose 0.1 per cent due to higher prices of jute yarn. However, the prices of tyre cord fabric and gunny, hessian cloth, jute sacking cloth and jute sacking bag declined.

Inflation rate for the 'wood and wood products' group rose 1.6 per cent due to higher prices of plywood and fibre board, timber / wooden planks and processed wood.

Inflation rate for the 'paper and paper products' group declined by 0.1 per cent due to lower prices of newspaper and newsprint and corrugated sheet boxes.  However, the price of computer stationery moved up.

Inflation rate for the 'leather and leather products' group declined by 0.2 per cent due to lower prices of leather footwear. However, the price of raw leather moved up.

Inflation rate for the 'rubber and plastic products' group rose 0.1 per cent due to higher prices of rubber products. However, the price of tubes declined.

Inflation rate for the 'chemicals and chemical products' group declined by 0.4 per cent due to lower prices of diammonium phosphate, non-cyclic compound, basic inorganic chemicals, rubber chemicals and explosives. However, the prices of vitamins and pesticides moved up.

Inflation rate for the 'non-metallic mineral products' group declined by 0.1 per cent due to lower prices of slag cement and polished granite. However, the price of lime moved up.

Inflation rate for the 'basic metals, alloys and metal products' group rose 0.7 per cent due to higher prices of GP/GC sheets and plates, rounds, melting scrap,     angles, HRC, sponge iron and wire rods, lead, steel rods, rebars, pig iron, CRC, nuts/bolts/screw/ washers, joist & beams, steel castings, pencil  ingots, silver and billets.

Inflation rate for the 'transport, equipment and parts' group rose 0.1 per cent due to higher prices of motor cycle, scooter and moped. However, the prices of railway  axle and wheel declined.

The final inflation rate for Juju, based on the revised wholesale prices for all commodities stood at 3.72 per cent against the 3.55 per cent provisionally estimated.





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