The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05 = 100) for the month May, 2013 rose by 0.1 percent to 171.6 (provisional) from 171.5 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 4.70% (provisional) for the month of May, 2013 (over May, 2012) as compared to 4.89% (provisional) for the previous month and 7.55% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 0.88% compared to a build up rate of 1.80% 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 rose by 0.6 percent to 229.3 (provisional) from 228.0 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for ‘Food Articles’ group rose by 1.5 percent to 223.1 (provisional) from 219.8 (provisional) for the previous month due to higher price of poultry chicken and ragi (5% each), fruits & vegetables (4%), fish-marine (3 %), rice (2%) and bajra, condiments & spices and milk (1% each). However, the price of tea (5%), coffee and maize   (2% each) and wheat, barley, moong, jowar, gram and egg (1% each) declined.

The index for ‘Non-Food Articles’ group declined by 0.6 percent to 208.5 (provisional) from 209.7 (provisional) for the previous month due to lower price of gingelly seed (8%), guar seed (5%), groundnut seed, castor seed, niger seed and copra (3% each), fodder, rape & mustard seed and raw jute (2% each) and linseed (1%). However, the price of safflower and raw rubber (4% each), soyabean and raw silk (3% each) and cotton seed (1%) moved up.

The index for ‘Minerals’ group declined by 2.4 percent to 346.5 (provisional) from 355.0 (provisional) for the previous month due to lower price of sillimanite (18%), crude petroleum and zinc concentrate (4% each), magnesite (2%) and iron ore (1%). However, the price of chromite (6%) and barites and steatite (1% each) moved up.

FUEL & POWER (Weight 14.91%)

The index for this major group declined by 1.3 percent to 192.0 (provisional) from 194.6 (provisional) for the previous month despite higher price of electricity (13%) as price of other items such as lpg (12%), coal (10%), aviation turbine fuel (6%) and petrol (5%) declined.

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group rose by 0.3 percent to 149.1 (provisional) from 148.7 (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 0.8 percent to 167.1 (provisional) from 165.8 (provisional) for the previous month due to higher price of processed prawn (13%), tea dust (unblended) and groundnut oil (5% each),     gur (4%), mustard & rapeseed oil, tea leaf (unblended) and canned fish (3% each), oil cakes, bakery products and cotton seed oil (2% each) and khandsari, mixed spices, sooji (rawa), soyabean oil and tea dust (blended) (1% each). However, the price of gingelly oil (5%), sugar confectionary (4%), rice bran oil (2%) and copra oil and sunflower oil (1% each) declined.

The index for ‘Beverages, Tobacco & Tobacco Products’ group rose by 0.4 percent to 181.9 (provisional) from 181.2 (provisional) for the previous month due to higher price of soft drinks & carbonated water, bidi and beer (1% each).

The index for ‘Textiles’ group rose by 1.0 percent to 135.0 (provisional) from 133.6 (provisional) for the previous month due to higher price of jute sacking cloth (2%) and gunny and hessian cloth, cotton fabric, cotton yarn and jute sacking bag (1% each).

The index for ‘Wood & Wood Products’ group rose by 0.2 percent to 174.3 (provisional) from 174.0 (provisional) for the previous month due to higher price of processed wood (2%).

The index for ‘Paper & Paper Products’ group rose by 0.5 percent to 140.7 (provisional) from 140.0 (provisional) for the previous month due to higher price of paper cartons/boxes (2%) and laminated paper, books/periodicals/journals, paper for printing / poster, printing and writing paper and cream laid woven paper (1% each).

The index for ‘Leather & Leather Products’ group rose by 0.7 percent to 136.1 (provisional) from 135.1 (provisional) for the previous month due to higher price of leather garments & jackets (2%) and leather footwear (1%). However, the price of leathers (1%) declined.

The index for ‘Rubber & Plastic Products’ group rose by 0.1 percent to 139.7 (provisional) from 139.5 (provisional) for the previous month due to higher price of scooter/motor cycle tyre and plastic films & sheet (4% each) and expendable polystyrene and polysthene/pvc foam (3% each).

The index for ‘Chemicals & Chemical Products’ group rose by 0.2 percent to 146.1 (provisional) from 145.8 (provisional) for the previous month due to higher price of washing soap and explosives (3% each), synthetic resin and pesticides (2% each) and toilet soap (1%). However, the price of ammonium sulphate (3%), di ammonium phosphate (2%) and basic organic chemicals and ayurvedic medicines (1% each) declined.

The index for ‘Non-Metallic Mineral Products’ group declined by 1.1 percent to 164.8 (provisional) from 166.6 (provisional) for the previous month due to lower price of marbles (3%), polished granite and bricks & tiles (2% each) and grey cement (1%). However, the price of railway sleeper (1%) moved up.

The index for ‘Basic Metals, Alloys & Metal Products’ group declined by 0.3 percent to 163.8 (provisional) from 164.3 (provisional) for the previous month due to lower price of silver (5%), gold & gold ornaments (3%), aluminium (2%) and sheets, pig iron, steel rods, melting scrap and brass (1% each). However, the price of     pressure cooker and steel structures (2% each) and metal containers, ferro silicon, copper/copper ingots, furniture and sponge iron (1% each) moved up.

The index for ‘Machinery & Machine Tools’ group rose by 0.4 percent to 130.1 (provisional) from 129.6 (provisional) for the previous month due to higher price of ball/roller bearing and control equipments (6%each), industrial furnaces (4%), communication equipments and pump & assembly (3% each), thresher, grinding /wet coffee machinery and batteries (2% each), insulators, industrial valves, engines, electric motors, pvc insulated cable and electric generators (1% each). However, the price of fibre optic cable and lamps (2% each) and computers and t.v.sets (1% each) declined.

The index for ‘Transport, Equipment & Parts’ group declined by 0.2 percent to 132.1 (provisional) from 132.4 (provisional) for the previous month due to lower price of bi-cycles (3%) and motor vehicles (1%). However, the price of shafts (all kinds) (1%) moved up.

FINAL INDEX FOR THE MONTH OF MARCH , 2013 (BASE YEAR: 2004-05=100)

For the month of March, 2013, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 170.1 as compared to 170.6 (provisional) and annual rate of inflation based on final index stood at 5.65 percent as compared to 5.96 percent respectively as reported on 14.03.2013.

Annexure-I

Wholesale Price Index and Rates of Inflation (Base Year: 2004-05=100)

  

DS/RK

(Release ID :96570)

Wholesale price inflation eased, with modest monthly rise driven by food and manufacturing while fuel components declined. Wholesale Price Index for All Commodities (base 2004-05=100) in May 2013 rose marginally to 171.6, yielding an annual inflation rate of 4.70% and a year to date build-up of 0.88%. Primary Articles increased slightly led by Food Articles, Fuel & Power declined due to lower prices for LPG, coal, ATF and petrol despite higher electricity, and Manufactured Products recorded a small rise driven by processed food, textiles and machinery. Annexures provide weighted indices, six month trends and a final index reconciliation for March 2013.