Index Numbers of Wholesale Price in India: Review for the month of January, 2016

The official Wholesale Price Index for �All Commodities’ (Base: 2004-05=100) for the month of January, 2016 declined by 1.0 percent to 175.7 (provisional) from 177.4 (provisional) for the previous month.

 

INFLATION

 

The annual rate of inflation, based on monthly WPI, stood at -0.90% (provisional) for the month of January, 2016 (over January, 2015) as compared to -0.73% (provisional) for the previous month and -0.95% during the corresponding month of the previous year.  Build up inflation rate in the financial year so far was -0.23% compared to a build up rate of -1.66% 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 1.7 percent to 253.3 (provisional) from 257.8 (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 1.9 percent to 267.6 (provisional) from 272.7 (provisional) for the previous month due to lower price of fruits & vegetables (6%), jowar (4%), arhar (3%), condiments & spices, urad and gram (2% each) and poultry chicken, moong, masur, coffee and rice (1% each).  However, the price of egg and bajra (3% each), tea,      ragi, beef & buffalo meat and barley (2% each) and pork and fish-inland (1% each) moved up.

 

The index for ‘Non-Food Articles’ group rose by 0.3 percent to 224.5 (provisional) from 223.9 (provisional) for the previous month due to higher price of mesta (12%), flowers (9%), raw jute and raw silk (7% each), raw wool (6%), cotton seed (4%), raw cotton (2 %) and gingelly seed (sesamum) (1%).  However, the price of copra (coconut) (8%), castor seed (7%), niger seed (6%), raw rubber (5%), coir fibre (3%), linseed, soyabean, rape & mustard seed and fodder (2% each) and sunflower (1%) declined.

 

The index for ‘Minerals’ group declined by 6.2 percent to 199.2 (provisional) from 212.3 (provisional) for the previous month due to lower price of crude petroleum, iron ore  and  limestone (7% each), manganese ore (6%), copper ore (5%) and      zinc concentrate (3%).  However, the price of magnesite (13%), chromite (4%), phosphorite (3%) and sillimanite (1%) moved up.

 

FUEL & POWER (Weight 14.91%)

 

The index for this major group declined by 2.9 percent to 171.6 (provisional) from 176.8 (provisional) for the previous month due to lower price of furnace oil (18%), aviation turbine fuel (12%), bitumen (9%), high speed diesel (4%), petrol (2%) and kerosene (1%).  However, the price of LPG (1%) moved up.

 

MANUFACTURED PRODUCTS (Weight 64.97%)

 

The index for this major group rose by 0.1 percent to 152.7 (provisional) from 152.6 (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 0.7 percent to 176.7 (provisional) from 175.4 (provisional) for the previous month due to higher price of sugar (5%), mixed spices and oil cakes (3% each), cotton seed oil and khandsari (2% each) and     sooji (rawa), processed prawn, gola (cattle feed), sunflower oil, gingelly oil and gram powder (besan) (1% each).  However, the price of vanaspati (5%), tea leaf (unblended) and coffee powder (4% each), tea leaf (blended) (3%), mustard & rapeseed oil, copra oil and rice bran oil (2% each) and bakery products, groundnut oil, powder milk and gur (1% each) declined.

 

The index for ‘Beverages, Tobacco & Tobacco Products’ group rose by 0.6 percent to 206.4 (provisional) from 205.2 (provisional) for the previous month due to higher price of zarda (11%) and dried tobacco and cigarette (1% each).

 

The index for ‘Textiles’ group declined by 0.2 percent to 139.4 (provisional) from 139.7 (provisional) for the previous month due to lower price of tyre cord fabric (4%) and man made fabric, cotton yarn and man made fibre (1% each).  However, the price of jute sacking bag (4%), gunny and hessian cloth and jute sacking cloth (2% each) and woollen textiles (1%) moved up.

 

The index for ‘Wood & Wood Products’ group declined by 0.6 percent to 195.3 (provisional) from 196.4 (provisional) for the previous month due to lower price of plywood & fibre board (1%).

 

The index for ‘Paper & Paper Products’ group rose by 0.5 percent to 155.7 (provisional) from 154.9 (provisional) for the previous month due to higher price of books/ periodicals/ journals and corrugated sheet boxes (2% each) and card board (1 %). However, the price of paper cartons / boxes (2%) declined.

 

The index for ‘Leather & Leather Products’ group rose by 0.3 percent to 144.8 (provisional) from 144.4 (provisional) for the previous month due to higher price of leathers (1%).

 

The index for ‘Rubber & Plastic Products’ group declined by 0.4 percent to 145.2 (provisional) from 145.8 (provisional) for the previous month due to lower price of  rubber transmission belt (3%), dot pen with refill, polyester film, hdpe bag and reclaimed rubber (2% each) and rigid pvc, plastic films & sheets, plastic/pvc shoes, plastic/pvc chappals, hdpe  woven fabric, rubber components & parts and other rubber products (1% each). However, the price of plastic components / accessories (2%) and hdpe woven sacks and seamless tubes & pipes (1% each) moved up.

 

The index for ‘Chemicals & Chemical Products’ group declined by 0.1 percent to 149.7 (provisional) from 149.9 (provisional) for the previous month due to lower price of non-cyclic compound (7%), lacquer & varnishes (4%) and      ammonium sulphate and turpentine oil (1% each).  However, the price of synthetic resin (3%) and pesticides, organic manure and vitamins (1% each) moved up.

 

The index for ‘Non-Metallic Mineral Products’ group rose by 0.6 percent to 178.6 (provisional) from 177.5 (provisional) for the previous month due to higher price of marbles (9%) and grey cement (1%).  However, the price of polished granite (2%) and lime and railway sleeper (1% each) declined.

 

The index for ‘Basic Metals, Alloys & Metal Products’ group declined by 0.5 percent to 149.6 (provisional) from 150.3 (provisional) for the previous month due to lower price of pipes/tubes/rods/strips (6%), zinc, sheets and CRC (3% each),     HRC and gp/gc sheets (2% each) and steel structures, ferro silicon, plates, steel: pipes & tubes, ferro manganese,  aluminium, wire rods, rounds, steel castings and pig iron (1% each).  However, the price of billets and pencil ingots (3% each) and angles, rebars, sponge iron, joist & beams and steel rods (1% each) moved up.

 

The index for ‘Transport, Equipment & Parts’ group rose by 0.1 percent to 138.2 (provisional) from 138.0 (provisional) for the previous month due to higher price of railway brake gear (1%).

 

FINAL INDEX FOR THE MONTH OF NOVEMBER, 2015 (BASE YEAR: 2004-05=100)

 

For the month of November, 2015, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 177.5 as compared to 177.6 (provisional) and annual rate of inflation based on final index stood at -2.04 percent as compared to -1.99 percent (provisional) respectively as reported on 14.12.2015.