India's wholesale price inflation falls to 4.64% in November
17 December 2018
The annual rate of inflation based on the wholesale price index (WPI) stood at 4.64 per cent for November 2018 compared to 5.28 per cent in the previous month and 4.02 per cent during the corresponding month of the previous year. Build-up of inflation rate so far during the financial year stands at 4.73 per cent compared to a build-up rate of 2.83 per cent in the corresponding period of the previous year.
Inflation rate for the `primary articles’ group, which has a weight of 22.62 per cent in the wholesale price index, declined by 0.7 per cent in November 2018.
Among primary articles, the index for the ‘food articles’ group rose 0.2 per cent due to higher prices of wheat, jowar, bajra, maize, barley, urad, arhar, gram, peas, rajma, moong, poultry chicken egg, tea, fish, pork, beef and buffalo meat and betel leaves. However, the prices of mutton and fruits and vegetables and ragi declined.
Inflation rate for the ‘non-food articles’ group rose 1.0 per cent due to higher prices of castor seed, guar seed, gingelly seed, mustard seed, groundnut seed, safflower (kardi seed), soyabean, sunflower and rape, raw wool and floriculture, hides (raw) and raw cotton and raw jute. However, the prices of raw silk, raw rubber and copra (coconut) and skins (raw) and cotton seed declined.
Inflation rate for the ‘minerals’ group rose by 0.8 per cent due to higher prices of sillimanite, iron ore, chromite, garnet and lead concentrate. However, the price of limestone and manganese ore declined.
Inflation rate for the 'crude petroleum and natural gas' group rose 4.3 per cent due to higher price of crude petroleum.
Inflation rate for the `fuel and power’ group, which has a weight of 13.15 per cent in the wholesale price index, declined by 1 per cent in November 2018.
Among this group, inflation rate for the ‘mineral oils’ group declined by 1.8 per cent due to lower prices of naphtha, petrol, petroleum coke and HSD. However, the prices of LPG, ATF, kerosene, furnace oil and bitumen moved up.
Inflation rate for the `manufactured products’ group, which has a weight of 64.23 per cent in the wholesale price index, remained unchanged at its previous month level.
Within the group, inflation rate for the ‘food products’ group declined by 0.4 per cent due to lower prices of processing and preserving of fish, crustaceans, molluscs and products thereof, palm oil, bagasse, cotton seed oil, rice products, gur, cocoa, chocolate and sugar confectionery, rice bran oil, vanaspati, buffalo meat (fresh and frozen), sunflower oil, powder milk, sugar, rice (non-basmati), butter and chicken/duck (dressed-fresh/frozen). However, the price of molasses, castor oil, coffee powder with chicory, honey, wheat bran, gram powder (besan), other meats (preserved/processed), groundnut oil and manufacture of starches and starch products, spices (including mixed spices), manufacture of processed ready to eat food, instant coffee and copra oil and manufacture of prepared animal feeds, processed tea, manufacture of health supplements, basmati rice, ghee, condensed milk and mustard oil moved up.
Inflation rate for the ‘beverages’ group rose 0.7 per cent due to higher prices of rectified spirit, aerated drinks/soft drinks (incl soft drink concentrates) and country liquor.
Inflation rate for the ‘tobacco products’ group declined by 0.6 per cent due to lower prices of other tobacco products.
Inflation rate for the ‘textiles’ group rose 0.1 per cent due to higher prices of cordage, rope, twine and netting and weaving and finishing of textiles, manufacture of made-up textile articles, except apparel and woollen yarn. However, the prices of synthetic yarn and viscose yarn and texturised and twisted yarn and manufacture of other textiles declined.
Inflation rate for the ‘wearing apparel’ group declined by 1.1 per cent due to lower prices of knitted and crocheted apparel and wearing apparel (woven), except fur apparel.
Inflation rate for the ‘leather and related products’ group declined by 0.4 per cent due to lower prices of belt and other articles of leather and waterproof footwear and canvas shoes.
Inflation rate for the ‘wood and of wood products and cork ‘group rose 0.6 per cent due to higher prices of wood cutting (processed/sized), particle boards and wooden board (non-electrical) and timber/wooden plank (sawn/resawn) and wooden box/crate. However, the price of wooden block (compressed or not) declined.
Inflation rate for the `paper and paper products’ group rose 1.1 per cent due to higher prices of paper bags, including craft paper bag, tissue paper, laminated plastic sheet, corrugated sheet box, paper carton/box, bristle paper board, newsprint and paper for printing and writing and laminated paper, hard board and pulp board. However, the prices of corrugated paper board, map litho paper and base paper declined.
Inflation rate for the ‘printing and reproduction of recorded media’ group declined by 0.3 per cent due to lower prices of printed labels/posters/calendars. However, the price of hologram, printed form and schedule and sticker plastic moved up.
Inflation rate for the ‘chemicals and chemical products’ group rose 0.3 per cent due to higher prices of menthol and ammonia liquid, tooth paste/tooth powder and amine, hair oil/body oil, ammonium phosphate, soda ash/washing soda, nitric acid and ammonium sulphate, superphospate/phosphatic fertiliser, di ammonium phosphate, catalysts, aromatic chemicals, sulphuric acid, explosive, phosphoric acid, ammonium nitrate and detergent cake, washing soap cake/bar/powder and caustic soda (sodium hydroxide), adhesive tape (non-medicinal), fungicide, aniline (including ONA, OCPNA), alkyl benzene, epoxy (liquid), viscose staple fibre, organic solvent, mixed fertiliser, paint, alcohols, other inorganic chemicals, urea, adhesive (excluding gum), ammonia gas, organic chemicals, poly propylene (PP), XLPE compound, varnish (all types), carbon black, powder coating material, printing ink and nitrogenous fertilizer. However, the prices of mono ethyl glycol, hydrogen peroxide, polyester film, acetic acid and its derivatives, sodium silicate, phthalic anhydride, fatty acid, toilet soap, organic surface active agent, rubber chemicals and polyethylene and agro chemical formulation, insecticide and pesticide, polystyrene, expandable, poly vinyl chloride (PVC), oleoresin and ethyl acetate declined.
Inflation rate for the ‘rubber and plastics products’ group rose 0.3 per cent due to higher prices of rubber components and parts, plastic tape, plastic button, elastic webbing, tractor tyre and plastic components and 2/3 wheeler tyre, cycle/cycle rickshaw tyre, rubber moulded goods, PVC fittings and other accessories, acrylic/plastic sheet, tooth brush and plastic film. However, the prices of rubber cloth/sheet, polyester film (non-metalized), processed rubber, condoms and conveyer belt (fibre based), 2/3 wheeler rubber tube, polypropylene film and plastic furniture and rubber crumb, plastic bag, plastic tank and solid rubber tyres/wheels declined.
Inflation rate for the ‘other non-metallic mineral products’ group declined by 0.2 per cent due to lower prices of ordinary sheet glass, poles and posts of concrete, marble slab, toughened glass, clinker, asbestos corrugated sheet, fibre glass (incl. sheet and granite). However, the prices of porcelain sanitary ware and lime, calcium carbonate, white cement, ceramic tiles (vitrified tiles), cement blocks (concrete) stone and chip moved up.
Inflation rate for the ‘basic metals’ group declined by 0.6 per cent due to lower prices of sponge iron/direct reduced iron (DRI), aluminium ingot, aluminium shapes-bars/rods/flats, aluminium disk and circles, MS pencil ingots, pig iron, mild steel (MS) blooms and lead ingots, bars, blocks, plates and MS castings, stainless steel pencil ingots/billets/slabs, galvanised iron pipes, aluminium alloys, GP/GC sheet, zinc metal/zinc blocks, cold rolled (CR) coils and sheets, including narrow strip, aluminium metal and stainless steel tubes. However, the prices of alloy steel castings, aluminium powder, copper shapes- bars/rods/plates/strips, copper metal/copper rings and silicomanganese and rails, stainless steel coils, strips and sheets, MS wire rods, ferrochrome, ferromanganese, alumnium foil and cast iron, castings moved up.
Inflation rate for the ‘fabricated metal products (except machinery and equipment)’ group rose 0.4 per cent due to higher prices of sanitary fittings of iron and steel, electrical stamping (laminated or otherwise), boilers, iron/steel cap, steel door and stainless steel utensils and bolts, screws, nuts and nails of iron and steel, steel drums and barrels, copper bolts, screws, nuts and metal cutting tools and accessories. However, the prices of forged steel rings, stainless steel razor and hose pipes in set or otherwise, steel pipes, tubes and poles, pressure cooker and jigs and fixture declined.
Inflation rate for the ‘computer, electronic and optical products’ group rose 0.1 per cent due to higher prices of meter (non-electrical) and capacitors, electronic printed circuit board (PCB)/micro circuit and X-ray equipment. However, the prices of electro-diagnostic apparatus used in medical, surgical, dental or veterinary sciences and telephone sets, including mobile handsets, colour TV and sunglasses declined.
Inflation rate for the ‘electrical equipment’ group rose 0.4 per cent due to higher prices of transformer, PVC insulated cable, incandescent lamps and amplifier and washing machines/laundry machines, electrical resistors (except heating resistors), electric switch gear control/starter, rotor/magneto rotor assembly, aluminium/alloy conductor, flourescent tube, jelly filled cables, electric wires and cables, generator parts, rubber insulated cables and fan. However, the prices of ACSR conductors, safety fuse and electric switch and insulator, fibre optic cables, electric mixers/grinders/food processors, lead acid batteries for vehicles and other uses and solenoid valve declined.
Inflation rate for the ‘machinery and equipment’ group rose 0.3 per cent due to higher prices of injection pump, roller mill, cranes, air conditioning plant and lathes, pressure vessel and tank for fermentation and other food processing and printing machinery, air or vacuum pump, rice mill machinery, moulding machine, material handling, lifting and hoisting equipment, chemical equipment and system, hydraulic equipment, gasket kit, evaporator, air gas compressor, including compressor for refrigerator and industrial valve. However, the price of hydraulic pump, oil pump and pharmaceutical machinery and roller and ball bearings, gearing and driving elements, mining, quarrying and metallurgical machinery/parts, grinding or polishing machine, filtration equipment and centrifugal pumps declined.
Inflation rate for the ‘motor vehicles, trailers and semi-trailers’ group rose 0.7 per cent due to higher prices of brake pad/brake liner/brake block/brake rubber, others, seat for motor vehicles and passenger vehicles and minibus/bus, axles of motor vehicles, chain and cylinder liners. However, the price of crankshaft declined.
Inflation rate for the ‘other transport equipment’ group marginally increased due to rise in the price of motor cycles. However, the price of railway brake gear and scooters and wagons declined.
Inflation rate for the ‘furniture’ group rose 0.9 per cent due to higher prices of iron/steel furniture and wooden furniture. However, the price of hospital furniture declined.
Inflation based on WPI Food Index consisting of ‘food articles’ from primary articles group and ‘food product’ from manufactured products group (weight of 24.38 per cent in WPI) declined from (-) 0.64 per cent in October 2018 to (-) 1.96 per cent in November2018.
The revised wholesale price inflation for September, based on the final Wholesale price index for ‘all commodities’ stood at 5.22 per cent against 5.13 per cent (provisional) reported on 15 October 2018.