The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05 = 100) for the month of November, 2013 rose by 0.7 percent to 181.5 (provisional) from 180.3 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 7.52% (provisional) for the month of November, 2013 (over November, 2012) as compared to 7.00% (provisional) for the previous month and 7.24% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 6.70% compared to a build up rate of 4.84% 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 1.9 percent to 256.3 (provisional) from 251.6 (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 2.0 percent to 256.4 (provisional) from 251.4 (provisional) for the previous month due to higher price of egg (8%), condiments & spices (7%), fruits & vegetables (6%), beef & buffalo meat and fish-marine (5% each), pork (4%), urad and jowar (3% each), moong, maize, ragi and wheat (2% each) and       arhar, mutton, masur, milk and barley (1% each). However, the price of fish-inland (10%), tea (5%), gram (2%) and     poultry chicken and rice (1% each) declined.

The index for `Non-Food Articles` group rose by 2.1 percent to 216.7 (provisional) from 212.3 (provisional) for the previous month due to higher price of sugarcane (19%), gingelly seed (16%), soyabean (9%), copra (coconut) (8%), tobacco (4%), safflower (kardi seed), rape & mustard seed and castor seed (3% each) and coir fibre, niger seed, fodder and mesta (1% each). However, the price of guar seed (12%), groundnut seed (6%), raw rubber (5%), raw cotton (4%), raw silk (3%), raw jute and flowers (2% each) and sunflower (1%) declined.

The index for `Minerals` group rose by 0.5 percent to 365.7 (provisional) from 363.7 (provisional) for the previous month due to higher price of zinc concentrate (7%), steatite (4%) and crude petroleum (2%). However, the price of     barytes (6%), copper ore (4%), phosphorite (3%), sillimanite (2%) and iron ore (1%) declined.

FUEL & POWER (Weight 14.91%)

The index for this major group rose by 0.1 percent to 209.6 (provisional) from 209.4 (provisional) for the previous month due to higher price of lpg (5%), bitumen (2%) and high speed diesel (1%). However, the price of aviation turbine fuel (5%), petrol and kerosene (2% each) and furnace oil (1%) declined.

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group rose by 0.2 percent to 151.9 (provisional) from 151.6 (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 0.6 percent to 170.8 (provisional) from 169.8 (provisional) for the previous month due to higher price of gingelly oil (10%), processed prawn (6%), rice bran oil and wheat flour (atta) (3% each), sooji (rawa), maida, ghee, oil cakes and palm oil (2% each) and copra oil, tea dust (blended), cotton seed oil, soyabean oil, groundnut oil and mustard & rapeseed oil (1% each). However, the price of gur (5%), khandsari and tea leaf (unblended) (2% each) and tea dust (unblended), tea leaf (blended), sugar and sunflower oil (1% each) declined.

The index for `Textiles` group rose by 0.5 percent to 140.4 (provisional) from 139.7 (provisional) for the previous month due to higher price of jute yarn (6%), tyre cord fabric (3%), man made fibre, man made fabric, jute sacking cloth and cotton fabric (1% each). However, the price of gunny and hessian cloth (2%) and jute sacking bag (1 % each) declined.

The index for `Wood & Wood Products` group rose by 0.3 percent to 178.9 (provisional) from 178.4 (provisional) for the previous month due to higher price of plywood & fibre board (1%).

The index for `Paper & Paper Products` group rose by 0.4 percent to 142.9 (provisional) from 142.3 (provisional) for the previous month due to higher price of kraft paper & bags (2%) and cream laid woven paper and printing and writing paper (1% each).

The index for `Leather & Leather Products` group rose by 1.3 percent to 145.6 (provisional) from 143.8 (provisional) for the previous month due to higher price of leather footwear (2%) and leathers (1%).

The index for `Rubber & Plastic Products` group rose by 0.1 percent to 146.7 (provisional) from 146.6 (provisional) for the previous month due to higher price of syringe (15%), rigid pvc (4%), rubber brakes and plastic/ldpe/polythene bags (2% each) and plastic/pvc suitcases, plastic rolls and rubber transmission belt (1% each). However, the prices of rubber components & parts, foot ball and other rubber products (2% each) and tractor tyre, plastic bottles, polyester film and synthetic rubber compound (1% each).    

The index for `Chemicals & Chemical Products` group declined by 0.1 percent to 148.7 (provisional) from 148.9 (provisional) for the previous month due to lower price of explosives (3%), rubber chemicals (2%) and synthetic resin, toilet soap, non-cyclic compound and pigment & pigment intermediates (1% each). However, the price of     organic manure, hair / body oils, safety matches/ match box and pesticides (1% each) moved up

The index for `Basic Metals, Alloys & Metal Products` group declined by 0.1 percent to 164.0 (provisional) from 164.1 (provisional) for the previous month due to lower price of steel castings (3%), pressure cooker (2%) and crc,     lead and iron & steel wire (1% each). However, the price of steel rods (10%), steel: pipes & tubes (2%) and ferro silicon, brass, silver, steel structures, pig iron and melting scrap (1% each) moved up.

The index for `Machinery & Machine Tools` group rose by 0.5 percent to 132.2 (provisional) from 131.6 (provisional) for the previous month due to higher price of electric switches (9%), sprinkler and t.v. accessories (5 % each), ball/roller bearing (3%), boiler & accessories (2%) and machine tools, electric switch gears, lamps and battery dry cells (1% each). However, the price of electric motors (3%) and hydraulic equipment and electronic pcb /micro circuit (1% each) declined.

The index for `Transport, Equipment & Parts` group declined by 0.1 percent to 135.5 (provisional) from 135.7 (provisional) for the previous month due to lower price of motor vehicles (1%). However, the price of railway axle & wheel and bi-cycles (1% each) moved up.

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

For the month of September, 2013, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 180.7 as compared to 179.7 (provisional) and annual rate of inflation based on final index stood at 7.05 percent as compared to 6.46 percent respectively as reported on 14.10.2013.

Annexure-I

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

 

  

 

Wholesale Price Index signals higher annual inflation as primary articles, fuels and selected manufactured goods push prices up. The Wholesale Price Index rose in November 2013 with the annual inflation rate increasing and a higher build up inflation for the financial year; primary articles (notably food and oilseeds), selected manufactured product groups and certain fuels contributed to the month on month rise while other subgroups recorded declines, with detailed subgroup indices provided in annexes.