Index Numbers of Wholesale Price in India (Base: 2011-12=100)

Index Numbers of Wholesale Price in India (Base: 2011-12=100)

Review for the month of June, 2017

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of June, 2017 declined by 0.1 percent to 112.7 (provisional) from 112.8 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 0.90% (provisional) for the month of June, 2017 (over June,2016) as compared to 2.17% (provisional) for the previous month and -0.09% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was -0.44% compared to a build up rate of 3.71% 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 22.62%)

The index for this major group rose by 0.3 percent to 126.9 (provisional) from 126.5 (provisional) for the previous month.  The groups and items which showed variations during the month are as follows:-

The index for ‘Food Articles’ group rose by 0.9 percent to 139 (provisional) from 137.7 (provisional) for the previous month due to higher price of fruits & vegetables (6%), fish-marine (2%) and egg, poultry chicken, fish-inland and milk (1% each).  However, the price of betel leaves (46%), peas/chawali (4%), urad, ragi, jowar, moong, masur, gram, arhar, condiments & spices, tea and bajra (3% each) and rajma (2%) and maize and wheat (1% each) declined.

The index for ‘Non-Food Articles’ group declined by 1.7 percent to 117.8 (provisional) from 119.8 (provisional) for the previous month due to lower price of floriculture (17%), guar seed (8%), raw rubber (5%), sunflower (4%), castor seed (3%), groundnut seed, cotton seed, soyabean, coir fibre and gingelly seed (2% each) and linseed and rape & mustard seed (1% each).  However, the price of raw cotton, safflower (kardi seed), niger seed, raw silk and copra (coconut) (1% each) moved up.

The index for ‘Minerals’ group rose by 1.3 percent to 116.3 (provisional) from 114.8 (provisional) for the previous month due to higher price of zinc concentrate (12%), iron ore and lead concentrate (9% each), copper concentrate (2%) and  chromite (1%).  However, the price of manganese ore (21%) declined.

The index for ‘Crude Petroleum & Natural Gas’ group declined by 2.4 percent to 69.4 (provisional) from 71.1 (provisional) for the previous month due to lower price of crude petroleum (3%).

FUEL & POWER (Weight 13.15%)

The index for this major group declined by 1.2 percent to 89.7 (provisional) from 90.8 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for ‘Coal’ group rose by 0.8 percent to 117.5 (provisional) from 116.6 (provisional) for the previous month due to higher price of coking coal (2%).

The index for ‘Mineral Oils’ group declined by 2.3 percent to 77.5 (provisional) from 79.3 (provisional) for the previous month due to lower price of LPG (12%), naphtha and ATF (3% each), HSD (2%) and petrol and lube oils (1% each). However, the price of petroleum coke (3%) and furnace oil (2%) moved up.

The index for ‘Electricity’ group declined by 0.7 percent to 102 (provisional) from 102.7 (provisional) for the previous month due to lower price of electricity (1%).

MANUFACTURED PRODUCTS (Weight 64.23%)

The index for this major group declined by 0.1 percent to 112.5 (provisional) from 112.6 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for ‘Manufacture of Food Products’ group declined by 0.4 percent to 126.7 (provisional) from 127.2 (provisional) for the previous month due to lower price of groundnut oil (4%), basmati rice (3%), wheat bran, sooji (rawa), salt, wheat flour (atta) and other meats, preserved/processed (2% each) and mustard oil, palm oil, sugar, manufacture of cocoa, chocolate and sugar confectionery, maida, cotton seed oil, rice bran oil, soyabean oil, ghee, manufacture of prepared animal feeds, coffee powder with chicory and powder milk (1% each).  However, the price of honey and processed tea (7% each), instant coffee (4%), manufacture of macaroni, noodles, couscous and similar farinaceous products (3%), gur, rice products, buffalo meat (fresh/frozen), gram powder (besan) and rapeseed oil (2% each) and processing & preserving of fish, crustaceans & molluscs & products thereof, spices (including mixed spices), condensed milk, manufacture of bakery products, manufacture of processed ready to eat food and processing & preserving of fruit & vegetables (1% each) moved up.

The index for ‘Manufacture of Beverages’ group rose by 0.1 percent to 117.6 (provisional) from 117.5 (provisional) for the previous month due to higher price of bottled mineral water (1%).

The index for ‘Manufacture of Tobacco Products’ group rose by 1 percent to 144.3 (provisional) from 142.9 (provisional) for the previous month due to higher price of other tobacco products and biri (2% each).  However, the price of cigarette (1%) declined.

The index for ‘Manufacture of Textiles’ group rose by 0.1 percent to 113.7 (provisional) from 113.6 (provisional) for the previous month due to higher price of ortla yarn, viscose yarn and weaving & finishing of textiles (1% each).   However, the price of manufacture of other textiles (1%) declined.

The index for ‘Manufacture of Wearing Apparel’ group declined by 0.2 percent to 133.2 (provisional) from 133.5 (provisional) for the previous month due to lower price of manufacture of wearing apparel (woven), except fur apparel (1%).   However, the price of manufacture of knitted & crocheted apparel (1%) moved up.

The index for ‘Manufacture of Leather and Related Products’ group rose by 0.3 percent to 119.9 (provisional) from 119.5 (provisional) for the previous month due to higher price of belt & other articles of leather (3%), chrome tanned leather (2%), travel goods, handbags, office bags, etc. and waterproof footwear (1% each).   However, the price of vegetable tanned leather and leather shoe (1% each) declined.

The index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group declined by 0.1 percent to 130.5 (provisional) from 130.6 (provisional) for the previous month due to lower price of wooden board (non-electrical) (2%) and wood cutting, processed/sized, particle boards, wooden box/crate and timber/wooden plank, sawn/resawn (1% each). However, the price of plywood block boards (1%) moved up.

The index for ‘Manufacture of Paper and Paper Products’ group declined by 0.6 percent to 115.7 (provisional) from 116.4 (provisional) for the previous month due to lower price of corrugated sheet box (4%) and card board, laminated plastic sheet and map litho paper (1% each).  However, the price of base paper (4%) and kraft paper (1%) moved up.

The index for ‘Printing and Reproduction of Recorded Media ‘ group rose by 0.5 percent to 142.4 (provisional) from 141.7 (provisional) for the previous month due to higher price of sticker plastic (4%) and journal/periodical (2%). However, the price of printed labels/posters/calendars (1%) declined.

The index for ‘Manufacture of Chemicals and Chemical Products’ group declined by 0.1 percent to 111.6 (provisional) from 111.7 (provisional) for the previous month due to lower price of phthalic anhydride (7%), ammonium sulphate (5%), mono ethyl glycol, poly propylene (pp), ammonium nitrate, xlpe compound and shampoo (4% each), polystyrene, expandable, oleoresin and polyester chips or polyethylene ortlandlate (pet) chips (2% each) and fatty acid, aromatic chemicals, liquid air & other gaseous products, nitric acid, dye stuff/dyes incl. dye intermediates and pigments/colours, ethylene oxide, polyethylene, alkyl benzene, aniline (including pna, ona, ocpna), adhesive tape (non-medicinal), varnish (all types) and ammonium phosphate (1% each).  However, the price of ammonia liquid and organic chemicals (4% each), foundry chemical, organic surface active agent and caustic soda (sodium hydroxide) (3% each), camphor, ortlan, adhesive excluding gum and paint (2% each) and carbon black, additive, insecticide and pesticide, printing ink, polyester fibre fabric, toilet soap, powder coating material, sodium silicate, safety matches (match box), polyester film(metalized), acetic acid and its derivatives, amine, sulphuric acid, other inorganic chemicals, tooth paste/tooth powder and rubber chemicals (1% each) moved up.

The index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group declined by 0.5 percent to 120.2 (provisional) from 120.8 (provisional) for the previous month due to lower price of sulpha drugs (7%), antibiotics & preparations thereof (2%) and anti-retroviral drugs for HIV treatment, vials/ampoule, glass (empty or filled), anti allergic drugs and plastic capsules (1% each).  However, the price of antioxidants and cotton wool (medicinal) (2% each) and digestive enzymes and antacids, anti-malarial drugs and anti cancer drugs (1% each) moved up.

The index for ‘Manufacture of Rubber and Plastics Products’ group declined by 0.1 percent to 108.5 (provisional) from 108.6 (provisional) for the previous month due to lower price of polyester film (non-metalized) (5%), rubber crumb (4%), pvc fittings & other accessories and rubber tread (3% each), medium & heavy commercial vehicle tyre and 2/3 wheeler tyre (2% each) and rubber moulded goods, polypropylene film, plastic film, plastic box/container, plastic tube (flexible/non-flexible), acrylic/plastic sheet and motor car tyre (1% each).  However, the price of plastic components (6%), conveyer belt (fibre based) (3%), rubber cloth/sheet, cycle/cycle rickshaw tyre and plastic tank (2% each) and thermocol and rubber components & parts (1% each) moved up.

The index for ‘Manufacture of Other Non-Metallic Mineral Products’ group rose by 0.8 percent to 112.3 (provisional) from 111.4 (provisional) for the previous month due to higher price of slag cement and graphite rod (3% each), marble slab, pozzolana cement and porcelain sanitary ware (2% each) and clinker, ordinary ortland cement, granite, cement blocks (concrete), toughened glass and lime and calcium carbonate (1% each).  However, the price of cement superfine, non ceramic tiles and plain bricks (1% each) declined.

The index for ‘Manufacture of Basic Metals’ group declined by 0.1 percent to 96.7 (provisional) from 96.8 (provisional) for the previous month due to lower price of ferrochrome (5%), ms slabs (4%), silicomanganese (3%), brass metal/sheet/coils and aluminium disk and circles (2% each) and mild steel (ms) blooms, copper shapes-bars/rods/plates/strips, alloy steel wire rods, ms bright bars, cold rolled (CR) coils & sheets, including narrow strip, gp/gc sheet, aluminium alloys, ms pencil ingots and ms wire rods (1% each).   However, the price of ferromanganese (6%), stainless steel pencil ingots/billets/slabs and zinc metal/zinc blocks (4% each), sponge iron/direct reduced iron (DRI) and alloy steel castings (3% each), stainless steel bars & rods, including flats and other ferro alloys (2% each) and cast iron, castings, aluminium castings, ms castings, stainless steel tubes and copper metal/copper rings (1% each) moved up.

The index for ‘Manufacture of Fabricated Metal Products, Except Machinery and Equipment’ group declined by 0.1 percent to 108 (provisional) from 108.1 (provisional) for the previous month due to lower price of stainless steel utensils (3%), cylinders and steel drums and barrels (2% each) and steel container and forged steel rings (1% each). However, the price of hand tools (4%) and bolts, screws, nuts & nails of iron & steel, iron/steel cap and steel structures (1% each) moved up.

The index for ‘Manufacture of Computer, Electronic and Optical Products’ group declined by 0.5 percent to 108.5 (provisional) from 109.1 (provisional) for the previous month due to lower price of ups in solid state drives and colour tv (4% each), watch and electro-diagnostic apparatus, used in medical, surgical, dental or veterinary sciences (2% each) and capacitors (1%).   However, the price of meter (non-electrical) and air conditioner (3% each) and electronic printed circuit board (pcb)/micro circuit (1%) moved up.

The index for ‘Manufacture of Machinery and Equipment’ group declined by 0.5 percent to 107.8 (provisional) from 108.3 (provisional) for the previous month due to lower price of pressure vessel and tank for fermentation & other food processing (12%), excavator, cranes and solar power system (solar panel & attachable equipment) (5% each), rice mill machinery and moulding machine (3% each), roller and ball bearings, manufacture of bearings, gears, gearing & driving elements and printing machinery (2% each) and industrial valve, agriculture implements, drilling machine and chemical equipment & system (1% each).  However, the price of precision machinery equipment/form tools (3%), pharmaceutical machinery and road roller (2% each) and pump sets without motor, air gas compressor including compressor for refrigerator, clutches and shaft couplings, injection pump, open end spinning machinery and sewing machines (1% each) moved up.

The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group rose by 0.3 percent to 111.6 (provisional) from 111.3 (provisional) for the previous month due to higher price of chain, minibus/bus and chassis of different vehicle types (2% each) and silencer & damper and wheels/wheels & parts (1% each).  However, the price of head lamp (3%) and shafts of all kinds, crankshaft, brake pad/brake liner/brake block/brake rubber, others and cylinder liners (1% each) declined.

The index for ‘Manufacture of Other Transport Equipment’ group rose by 0.6 percent to 109.7 (provisional) from 109 (provisional) for the previous month due to higher price of motor cycles (1%).

The index for ‘Manufacture of Furniture’ group rose by 1.8 percent to 116.2 (provisional) from 114.2 (provisional) for the previous month due to higher price of foam and rubber mattress (8%) and iron/steel furniture (2%). However, the price of steel shutter gate (1%) declined.

The index for ‘Other Manufacturing’ group declined by 3.8 percent to 110.3 (provisional) from 114.6 (provisional) for the previous month due to lower price of gold & gold ornaments (5%).  However, the price of intraocular lens (6%) moved up.

WPI FOOD INDEX (Weight 24.38%)

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 0.15% in May, 2017 to -1.25% in June, 2017.

FINAL INDEX FOR THE MONTH OF APRIL, 2017 (BASE YEAR: 2011-12=100)

For the month of April, 2017, the final Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) and annual rate of inflation remained unchanged at its provisional level of 113.2 and 3.85 percent respectively as reported on 12.05.2017.