The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05 = 100) for the month of December, 2014 declined by 0.9 percent to 179.8 (provisional) from 181.5 (provisional) for the previous month. 

INFLATION 

The annual rate of inflation, based on monthly WPI, stood at  0.11% (provisional) for the month of December, 2014 (over December, 2013) as compared to 0.0% (provisional) for the previous month and 6.40% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was -0.28% compared to a build up rate of 5.58% 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 1.3 percent to 249.0 (provisional) from 252.4 (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 252.7 (provisional) from 257.5 (provisional) for the previous month due to lower price of fruits & vegetables (5%), beef & buffalo meat, fish-inland, pork and poultry chicken (4% each),   bajra, rice and fish-marine (2% each) and arhar (1%).  However, the price of egg (6%), moong (4%), barley and ragi  (2% each) and wheat, gram, maize, masur and condiments & spices (1% each) moved up. 

The index for ‘Non-Food Articles’ group rose by 0.3 percent to 209.1 (provisional) from 208.5 (provisional) for the previous month due to higher price of flowers (10%), niger seed, soyabean and mesta (5% each), raw jute and sunflower (3% each), rape & mustard seed (2%) and fodder and linseed (1% each).  However, the price of guar seed (9%), copra (coconut) (6%), gingelly seed (4 %), groundnut seed (3%), raw silk, raw wool and cotton seed (2% each) and raw rubber (1%) declined.

The index for ‘Minerals’ group declined by 0.5 percent to 325.7 (provisional) from 327.4 (provisional) for the previous month due to lower price of barites and phosphorite (7% each), crude petroleum (4%), manganese ore (3%) and    sillimanite and steatite (1% each).  However, the price of magnesite (29%), zinc concentrate (25%), copper ore (11%) and    limestone (4%) moved up.

FUEL & POWER (Weight 14.91%)

The index for this major group declined by 2.4 percent to 194.6 (provisional) from 199.3 (provisional) for the previous month due to lower price of furnace oil (10%), bitumen (8%), aviation turbine fuel (5%) and LPG, petrol and high speed diesel oil (2% each) and kerosene (1%).

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group declined by 0.3 percent to 154.9 (provisional) from 155.4 (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 0.1 percent to 172.7 (provisional) from 172.6 (provisional) for the previous month due to higher price of mixed spices (8%), tea leaf (blended) and powder milk (5% each), bakery products and sugar confectionary (4% each), tea leaf (unblended), soyabean oil and canned fish (3% each), copra oil and groundnut oil   (2% each) and mustard & rapeseed oil, sunflower oil, oil cakes and gingelly oil (1% each).  However, the price of gur (4%),  gram powder (besan) and sugar (3% each), cotton seed oil, rice bran oil and vanaspati (2% each) and palm oil, tea dust (blended), tea dust (unblended) and khandsari (1% each) declined.

The index for ‘Textiles’ group declined by 0.4 percent to 142.2 (provisional) from 142.8 (provisional) for the previous month due to lower price of cotton yarn (2%) and tyre cord fabric, woollen textiles and man made fibre (1% each).  However, the price of gunny and hessian cloth and jute yarn (2% each) moved up.

The index for ‘Wood & Wood Products’ group rose by 1.4 percent to 189.1 (provisional) from 186.5 (provisional) for the previous month due to higher price of plywood & fibre board (3%).

The index for ‘Paper & Paper Products’ group declined by 0.1 percent to 151.2 (provisional) from 151.3 (provisional) for the previous month due to lower price of paper cartons / boxes, paper rolls and corrugated sheet boxes (2% each) and paper pulp and newspaper (1% each).  However, the price of newsprint (3%), books/ periodicals/ journals and laminated paper (2% each) and kraft  paper & bags (1%) moved up.

The index for ‘Leather & Leather Products’ group declined by 0.7 percent to 146.4 (provisional) from 147.4 (provisional) for the previous month due to lower price of leather footwear (1%).  However, the price of leather garments & jackets     (1%) moved up.

The index for ‘Rubber & Plastic Products’ group declined by 0.8 percent to 149.7 (provisional) from 150.9 (provisional) for the previous month due to lower price of plastic products (2%) and tubes (1%).

The index for ‘Chemicals & Chemical Products’ group declined by 0.3 percent to 152.7 (provisional) from 153.2 (provisional) for the previous month due to lower price of non-cyclic compound (5%) and basic organic chemicals,  organic manure, turpentine oil and adhesive &  gum (1% each).  However, the price of ammonium sulphate (2%) and   ayurvedic medicines, hair / body oils, pesticides, synthetic resin, pigment & pigment intermediates and explosives      (1%) moved up.

The index for ‘Non-Metallic Mineral Products’ group declined by 1.7 percent to 171.9 (provisional) from 174.9 (provisional) for the previous month due to lower price of white cement (4%), grey cement and marbles (2% each) and slag  cement and lime (1% each).  However, the price of asbestos corrugated sheet (1%) moved up.

The index for ‘Basic Metals, Alloys & Metal Products’ group declined by 0.4 percent to 164.8 (provisional) from 165.5 (provisional) for the previous month due to lower price of steel castings (5%), silver (4%), pig iron (3%), melting scrap,  wire rods, angles, pencil  ingots and billets (2% each) and  pipes/tubes/rods/strips, joist & beams, plates, sheets, gp/gc sheets, rebars and metal containers (1% each).  However, the price of slab (5%), steel structures (3%), zinc (2%) and   ferro manganese, iron & steel wire, fixtures and gold & gold ornaments (1% each) moved up.

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

For the month of October, 2014, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 183.7 as compared to 183.9 (provisional) and annual rate of inflation based on final index stood at 1.66 percent as compared to 1.77 percent respectively as reported on 14.10.2014.

Annexure-I

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

Month of December, 2014