OREANDA-NEWS. February 17, 2015.  The official Wholesale Price Index for ‘All Commodities’(Base: 2004-05 = 100) for the month of January, 2015 declined by 0.8 percent to 178.3 (provisional) from 179.8 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at  -0.39% (provisional) for the month of January, 2015 (over January, 2014) as compared to 0.11% (provisional) for the previous month and 5.11% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was -1.11% compared to a build up rate of 5.23% 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 1.0 percent to 246.6 (provisional) from 249.0 (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 0.1 percent to 252.4 (provisional) from 252.7 (provisional) for the previous month due to lower price of egg (4%), jowar (3%), beef & buffalo meat and mutton (2% each) and fruits & vegetables and fish-inland (1% each).  However, the price of urad (7%), masur and gram (5% each), arhar, moong and barley (4% each), maize (3%), fish-marine and bajra (2% each) and ragi, wheat, pork and condiments & spices (1% each) moved up.

The index for ‘Non-Food Articles’ group declined by 0.7 percent to 207.6 (provisional) from 209.1 (provisional) for the previous month due to lower price of flowers (9%), cotton seed (7%), raw silk (5%), raw cotton (3%), sunflower, gingelly seed and castor seed (2% each) and fodder (1%).  However, the price of niger seed (6%), raw rubber (5%), copra (coconut) (4%), soyabean (3%), rape & mustard seed and mesta (2% each) and gaur seed and groundnut seed (1% each) moved up.

The index for 'Minerals’ group declined by 7.6 percent to 301.1 (provisional) from 325.7 (provisional) for the previous month due to lower price of barytes (19%), copper ore (16%), crude petroleum (11%), magnesite (5%) and manganese ore (1%).  However, the price of zinc concentrate (16%), steatite (3%) and limestone, phosphorite and sillimanite (1% each) moved up.

FUEL & POWER (Weight 14.91%)

The index for this major group declined by 2.5 percent to  189.7 (provisional) from 194.6  (provisional) for the previous month due to lower price of aviation turbine fuel (14%), furnace oil (6%) and petrol and high speed diesel (4% each).

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group declined by 0.3 percent to 154.5 (provisional) from 154.9 (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 declined by 0.6 percent to 171.6 (provisional) from 172.7 (provisional) for the previous month due to lower price of tea leaf (blended) (8%), tea leaf (unblended) (7%), oil cakes (4%), sugar and khandsari (2% each) and sunflower oil (1%).  However, the price of groundnut oil and sugar confectionary (5% each), copra oil (3%),     mustard & rapeseed oil and wheat flour (atta) (2% each) and sooji (rawa), mixed spices, rice bran oil, maida, tea dust (unblended), palm oil and soyabean oil (1% each) moved up.

 

The index for ‘Beverages, Tobacco & Tobacco Products’ group rose by 0.1 percent to 202.0 (provisional) from 201.8 (provisional) for the previous month due to higher price of dried tobacco and soft drinks & carbonated water (1% each). However, the price of rectified spirit (1%) declined.

The index for ‘Textiles’ group declined by 1.2 percent to 140.5 (provisional) from 142.2 (provisional) for the previous month due to lower price of cotton yarn (3%), man made fabric and man made fibre (2% each) and cotton fabric (1%).  However, the price of tyre cord fabric (4%), gunny and hessian cloth and jute sacking cloth (3% each), jute sacking bag      (2%) and jute yarn (1%) moved up.

The index for ‘Paper & Paper Products’ group rose by 0.1 percent to 151.4 (provisional) from 151.2 (provisional) for the previous month due to higher price of books/ periodicals/ journals and corrugated sheet boxes (1% each).  However, the price of paper pulp (2%) and printing and writing paper (1%) declined.

The index for ‘Leather & Leather Products’ group declined by 1.8 percent to 143.8 (provisional) from 146.4 (provisional) for the previous month due to lower price of leathers (5%) and leather footwear (1%).

 The index for ‘Rubber & Plastic Products’ group declined by 0.2 percent to 149.4 (provisional) from 149.7 (provisional) for the previous month due to lower price of rubber transmission belt (6%), plastic/pvc shoes (4%), plastic/pvc pipe (3%), rubber footwear (2%) and plastic/ldpe/polythene bag, plastic films & sheets, plastic bottles, polyester film, plastic/pvc chappals and hdpe bag (1% each).

The index for ‘Chemicals & Chemical Products’ group declined by 0.5 percent to 151.9 (provisional) from 152.7 (provisional) for the previous month due to lower price of rubber chemicals (7%), non-cyclic compound (3%), synthetic resin and basic organic chemicals (3% each) and basic inorganic chemicals (1%).  However, the price of organic manure      (7%), hair / body oils (3%), tooth paste / tooth powder (2%) and castor oil, di ammonium phosphate and pesticides  (1% each) moved up.

The index for ‘Non-Metallic Mineral Products’ group rose by 0.6 percent to 172.9 (provisional) from 171.9 (provisional) for the previous month due to higher price of grey cement (2%) and asbestos corrugated sheet, glass bottles & bottleware and lime (1% each).  However, the price of bricks & tiles (4%), marbles (3%) and slag cement (1%) declined.

The index for ‘Basic Metals, Alloys & Metal Products’ group declined by 0.1 percent to 164.7 (provisional) from 164.8 (provisional) for the previous month due to lower price of slab (5%), pig iron (4%), zinc and steel structures (2% each) and      ferro silicon, steel rods, CRC, angles, rebars, silver and HRC (1% each).  However, the price of iron castings (4%),     nuts/bolts/screw/ washers (2%) and pipes/tubes/rods/strips, gold & gold ornaments, sheets, plates and billets (1% each) moved up.

The index for ‘Machinery & Machine Tools’ group rose by 0.2 percent to 135.2 (provisional) from 134.9 (provisional) for the previous month due to higher price of heating elements (5%) and industrial furnaces, electric motors, thresher, electric generators, lamps, electronic pcb /micro circuit, washing / laundry machines, earth moving machinery and ball/roller bearing (1% each).  However, the price of heat exchanger (6%) declined.

FINAL INDEX FOR THE MONTH OF NOVEMBER, 2014 (BASE YEAR: 2004-05=100) 

For the month of  November, 2014, the final Wholesale Price Index for ‘All Commodities’(Base: 2004-05=100) stood at 181.2 as compared to 181.5 (provisional) and annual rate of inflation based on final index stood at -0.17 percent as compared to 0.00 percent respectively as reported on 14.11.2014.