Index Numbers of Wholesale Price in India (Base: 2004-05=100)

Index Numbers of Wholesale Price in India (Base: 2004-05=100)

Review for the month of October, 2016

The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of October, 2016 rose by 0.1 percent to 182.9 (provisional) from 182.8 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 3.39% (provisional) for the month of October, 2016 (over October, 2015) as compared to 3.57% (provisional) for the previous month and -3.70% during the corresponding month of the previous year.  Build up inflation rate in the financial year so far was 4.34% compared to a build up rate of 0.45% in the corresponding period of the previous year.

Inflation for important commodities / commodity groups is indicated in Annex-1 and Annex-II.

The movement of the index for the various commodity groups is summarized below:-

PRIMARY ARTICLES (Weight 20.12%)

The index for this major group declined by 0.8 percent to 261.8 (provisional) from 263.9 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for 'Food Articles' group declined by 0.3 percent to 278.8 (provisional) from 279.6 (provisional) for the previous month due to lower price of urad (6%), masur and fruits & vegetables (4% each), arhar, bajra, maize and mutton   (3% each), jowar (2%) and moong, fish-inland and condiments & spices (1% each).  However, the price of gram (18%),      ragi (9%), poultry chicken (5%) and fish-marine, coffee and milk (1% each) moved up.

The index for 'Non-Food Articles' group declined by 3.1 percent to 223.2 (provisional) from 230.3 (provisional) for the previous month due to lower price of soyabean (10%), groundnut seed and flowers (8% each), raw cotton (5%), guar seed and raw rubber   (4% each), gingelly seed and castor seed (3 % each), sunflower, hides (raw), raw silk and rape & mustard seed (2% each) and raw wool, skins (raw), coir fibre and mesta (1% each).  However, the price of fodder and linseed (2% each) and cotton seed and safflower (kardi seed) (1% each) moved up.

The index for 'Minerals' group rose by 0.2 percent to 210.9 (provisional) from 210.4 (provisional) for the previous month due to higher price of limestone (8%), copper ore (4%), zinc concentrate (2%) and crude petroleum (1%).  However, the price of magnesite (6%), iron ore, phosphorite and sillimanite (4% each), manganese ore (3%) and chromite (1%) declined.

FUEL & POWER (Weight 14.91%)

The index for this major group rose by 1.0 percent to 187.3 (provisional) from 185.4 (provisional) for the previous month due to higher price of aviation turbine fuel (4%), petrol, furnace oil and high speed diesel (2% each) and kerosene and LPG (1% each).

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group rose by 0.2 percent to 157.4 (provisional) from 157.1 (provisional) for the previous month. The groups and items for which the index showed variations during the month are as follows:-

The index for ' Food Products ' group rose by 0.3 percent to 193.0 (provisional) from 192.5 (provisional) for the previous month due to higher price of gram powder (besan) (14%), cotton seed oil (3%), vanaspati, gola (cattle feed), tea dust (unblended) and ghee (2% each) and powder milk, sooji (rawa) and processed prawn (1% each).  However, the price of      groundnut oil and tea leaf (blended) (3% each), oil cakes, copra oil, mixed spices and maida (2% each) and gur, palm oil and tea leaf (unblended) (1% each) declined.

The index for 'Beverages, Tobacco & Tobacco Products' group declined by 0.1 percent to 221.7 (provisional) from 221.9 (provisional) for the previous month due to lower price of beer (1%).

The index for 'Textiles' group declined by 0.4 percent to 141.7 (provisional) from 142.2 (provisional) for the previous month due to lower price of jute sacking bag (5%), jute sacking cloth (4%) and cotton yarn and cotton fabric (1% each).

The index for 'Paper & Paper Products' group declined by 0.6 percent to 155.9 (provisional) from 156.8 (provisional) for the previous month due to lower price of corrugated sheet boxes (4%) and paper rolls (2%). However, the price of      kraft  paper & bags (1%) moved up.

The index for 'Leather & Leather Products' group declined by  0.2  percent to 145.5 (provisional) from 145.8 (provisional) for the previous month due to lower price of leather garments & jackets (1%).

The index for 'Rubber & Plastic Products' group rose by 0.5 percent to 148.5 (provisional) from 147.8 (provisional) for the previous month due to higher price of tyres (1%).

The index for 'Chemicals & Chemical Products' group rose by 0.1 percent to 150.7 (provisional) from 150.6 (provisional) for the previous month due to higher price of safety  matches/ match box (6%), antacid and  digestive preparations, basic inorganic chemicals and basic organic chemicals (1% each).  However, the price of tooth paste / tooth powder (3%),     hair / body oils (2%) and lacquer & varnishes, turpentine oil, non-cyclic compound, antibiotics and vitamins (1% each) declined.

The index for 'Non-Metallic Mineral Products' group rose by 0.4 percent to 180.2 (provisional) from 179.4 (provisional) for the previous month due to higher price of marbles (5%), polished granite (2%) and asbestos corrugated sheet and bricks & tiles (1% each).  However, the price of lime (1%) declined.

The index for 'Basic Metals, Alloys & Metal Products' group rose by 1.4 percent to 155.2 (provisional) from 153.0 (provisional) for the previous month due to higher price of pig iron (7%), gp/gc sheets (5%),  billets, sheets, rounds and wire rods (4% each), zinc, angles, HRC, plates and joist & beams (3% each),  sponge iron, pencil  ingots, rebars,     melting scrap and CRC (2% each) and steel structures and steel rods (1% each).  However, the price of lead (4%) and      gold & gold ornaments, metal containers, iron & steel wire and copper / copper ingots (1% each) declined.

The index for 'Machinery & Machine Tools' group declined by 0.1 percent to 135.2 (provisional) from 135.3 (provisional) for the previous month due to lower price of t.v.sets (3%) and electric switch gears, ball/roller bearing and fluorescent tubes (1% each).  However, the price of fibre optic cable (3%) and insulators (1%) moved up.

The index for 'Transport, Equipment & Parts' group rose by 0.1 percent to 139.9 (provisional) from 139.8 (provisional) for the previous month due to higher price of  railway  axle & wheel (1%).