The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of May, 2015 rose by 1.0 percent to 177.7 (provisional) from 176.0 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at -2.36% (provisional) for the month of May, 2015 (over May, 2014) as compared to -2.65% (provisional) for the previous month and 6.18% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 0.91% compared to a build up rate of 0.94% 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 1.3  percent to 244.9 (provisional) from 241.8  (provisional) for the previous month The groups and items which showed variations during the month are as follows:-

The index for ‘Food Articles’ group rose by 0.5 percent to 253.9 (provisional) from 252.7 (provisional) for the previous month due to higher price of gram (11%), urad (8%), arhar (6%), masur and tea (5% each), moong (4%), fish-marine (3%),      egg (2%) and jowar, condiments & spices and milk (1% each).  However, the price of beef & buffalo meat, poultry chicken and barley (3% each), ragi (2%) and maize, wheat, coffee, pork and fruits & vegetables (1% each) declined.

The index for  ‘Non-Food Articles’ group rose by 5.1 percent to 213.9 (provisional) from 203.5 (provisional) for the previous month due to higher price of soyabean (15%), guar seed and sugarcane (13% each), flowers (9%), raw wool (7%), logs & timber, groundnut seed and raw rubber (6% each), raw cotton (5%), castor seed (4%), sunflower and cotton seed (2% each) and safflower (kardi seed), mesta, rape & mustard seed and raw jute  (1% each).  However, the price of raw silk, gingelly seed and niger seed (7% each) and copra (coconut) (4%) and fodder (1%) declined.

The index for  ‘Minerals’ group rose by 0.4 percent to 247.7 (provisional) from 246.6 (provisional) for the previous month due to higher price of sillimanite (9%), crude petroleum (4%) and zinc concentrate and copper ore (2% each).  However, the price of barytes (13%), manganese ore (7%), magnesite (5%) and chromite and iron ore (4% each) declined.

FUEL & POWER (Weight 14.91%)

The index for this major group rose by 3.0 percent to 189.8 (provisional) from 184.2 (provisional) for the previous month due to higher price of furnace oil (12%), petrol (8%), high speed diesel (4%), bitumen (3%), electricity (agricultural) (2%) and electricity (railway traction), electricity (industry) and electricity (domestic) (1% each).

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group rose by 0.2 percent to 154.1 (provisional) from 153.8 (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 1.1 percent to 171.7 (provisional) from 169.8 (provisional) for the previous month due to higher price of tea dust (blended) (10%), gram powder (besan) (8%), oil cakes (6%), tea leaf (blended) (4%), copra oil and mustard & rapeseed oil (3% each), sunflower oil, vanaspati and bakery products (2% each) and mixed spices, groundnut oil and rice bran oil (1% each).  However, the price of gola (cattle feed) (3%), tea dust (unblended) (2%) and khandsari, tea leaf (unblended), wheat flour (atta) and soyabean oil (1% each) declined.

The index for ‘Beverages, Tobacco & Tobacco Products’ group declined by 0.2 percent to 203.0 (provisional) from 203.5 (provisional) for the previous month due to lower price of cigarette (1%).  However, the price of beer (1%) moved up.

The index for ‘Textiles’ group declined by 0.1 percent to 140.1(provisional) from 140.3 (provisional) for the previous month due to lower price of tyre cord fabric (5%), man made fibre (2%) and cotton yarn (1%).  However, the price of  jute sacking bag, woollen textiles and cotton fabric (1% each) moved up.

The index for ‘Wood & Wood Products’ group rose by 0.5 percent to 192.9 (provisional) from 192.0 (provisional) for the previous month due to higher price of  timber / wooden planks (2%).

The index for ‘Paper & Paper Products’ group declined by 0.2 percent to 152.8 (provisional) from 153.1 (provisional) for the previous month due to lower price of  kraft  paper & bags (2%) and corrugated sheet boxes (1%).  However, the price of  paper cartons / boxes and paper pulp (1% each) moved up.

The index for ‘Leather & Leather Products’ group rose by 1.2 percent to 143.5 (provisional) from 141.8 (provisional) for the previous month due to higher price of  leather footwear (2%).

The index for ‘Rubber & Plastic Products’ group rose by 0.5 percent to 148.8 (provisional) from 148.1 (provisional) for the previous month due to higher price of  tyres and plastic products (1% each).

The index for ‘Chemicals & Chemical Products’ group rose by 0.1 percent to 150.9 (provisional) from 150.7 (provisional) for the previous month due to higher price of washing soap (5%), paints (2%) and non-cyclic compound, explosives, ayurvedic medicines and pigment & pigment intermediates (1% each).  However, the price of rubber chemicals (2%) and dye & dye intermediates and basic organic chemicals (1% each) declined.

The index for ‘Non-Metallic Mineral Products’ group declined by 0.4 percent to 176.9 (provisional) from 177.6 (provisional) for the previous month due to lower price of marbles (6%) and grey cement (2%).  However, the price of      bricks& tiles (4%), slag cement (2%) and railway sleeper (1%) moved up.

The index for ‘Basic Metals, Alloys & Metal Products’ group declined by 0.1 percent to 161.8 (provisional) from 162.0 (provisional) for the previous month due to lower price of plates (5%), wire rods (3%), rounds, billets, pencil  ingots, gp/gc sheets, melting scrap, CRC and angles (2% each) and pig iron, rebars, sponge iron, joist & beams, ferro manganese, aluminium, gold & gold ornaments, HRC and ferro chrome (1% each).  However, the price of copper products (other than wire) (15%), steel rods (13%), brass (5%), pipes/tubes/rods/strips, iron castings and pressure cooker (2% each) and silver, metal containers, steel: pipes & tubes and sheets (1% each) moved up.

The index for ‘Transport, Equipment & Parts’ group rose by 0.1 percent to 137.6 (provisional) from 137.4 (provisional) for the previous month due to higher price of  shafts (all kinds) (2%) and railway brake gear (1%).

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

For the month of March, 2015, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) and annual rate of inflation remained unchanged at its provisional level of 176.1 and -2.33 percent respectively as reported on 15.04.2015.

Next date of press release: 14/07/2015 for the month of June, 2015

Office of Economic Adviser, Ministry of Commerce & Industry, New Delhi,

This press release is available at our home page http://eaindustry.nic.in

Annexure-I

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

Month of May, 2015

Commodities/Major Groups/Groups/Sub-Groups	Weight	WPI May, 2015	Latest month over month			Build up from March		Year on year
			2013-14		2014-15	2013-14	2014-15	2013-14	2014-15
ALL COMMODITIES	100.00000	177.7	0.66		0.97	0.94	0.91	6.18	-2.36
PRIMARY ARTICLES	20.11815	244.9	1.82		1.28	3.09	2.47	8.58	-0.77
Food Articles	14.33709	253.9	2.34		0.47	4.26	1.85	9.64	3.80
Cereals	3.37323	230.1	-0.04		-0.56	-0.30	-0.43	7.81	-0.13
Rice	1.79348	233.6	1.58		-0.17	2.46	0.00	12.75	-1.77
Wheat	1.11595	213.5	-2.30		-1.34	-4.77	-0.93	3.44	2.79
Pulses	0.71662	284.0	1.00		7.54	1.54	10.16	-0.17	22.84
Vegetables	1.73553	223.5	7.55		2.95	19.25	3.09	0.08	-5.54
Potato	0.20150	135.8	23.03		0.44	46.73	-10.19	37.12	-51.95
Onion	0.17794	312.1	8.82		0.81	6.40	-6.14	-3.46	20.41
Fruits	2.10717	254.9	2.04		-2.93	8.31	4.55	19.45	8.65
Milk	3.23818	249.6	1.34		0.81	1.52	0.93	9.57	6.85
Egg, Meat & Fish	2.41384	292.1	3.58		0.45	2.44	0.69	12.51	0.86
Non-Food Articles	4.25756	213.9	0.88		5.11	0.51	5.58	4.94	-2.24
Fibres	0.87737	209.3	0.98		3.21	-0.38	8.22	8.44	-11.91
Oil Seeds	1.78051	215.4	3.23		4.06	5.12	5.38	4.97	-1.01
Minerals	1.52350	247.7	0.12		0.45	0.14	1.81	8.06	-28.41
FUEL & POWER	14.91021	189.8	0.14		3.04	-0.98	0.96	10.53	-10.51
Liquefied petroleum gas	0.91468	162.9	-0.92		0.00	-2.77	0.12	7.11	-5.18
Petrol	1.09015	173.6	-0.61		8.09	-2.44	5.15	12.28	-11.29
High speed diesel	4.67020	205.3	0.96		4.21	0.48	1.03	14.21	-11.62
MANUFACTURED PRODUCTS	64.97164	154.1	0.32		0.20	0.58	0.13	3.88	-0.64
Food Products	9.97396	171.7	0.70		1.12	2.19	0.94	3.29	-0.64
Sugar	1.73731	172.6	0.11		-0.12	3.49	-1.09	-0.89	-9.06
Edible Oils	3.04293	146.3	-0.14		1.18	-0.41	1.04	-0.82	0.27
Beverages, Tobacco & Tobacco Product	1.76247	203.0	0.10		-0.25	0.97	-0.10	8.45	2.73
Cotton Textiles	2.60526	156.8	1.09		0.00	1.46	-0.57	9.13	-6.28
Man Made Textiles	2.20573	131.1	0.30		-1.50	0.07	-1.13	6.04	-2.96
Wood & Wood Products	0.58744	192.9	-1.11		0.47	-0.27	1.69	6.68	3.21
Paper & Paper Products	2.03350	152.8	0.00		-0.20	1.22	-0.07	6.26	2.28
Leather & Leather Products	0.83509	143.5	-0.41		1.20	-1.16	0.84	4.49	-0.55
Rubber & Plastic Products	2.98697	148.8	-0.20		0.47	-0.07	0.34	5.34	-0.67
Chemicals & Chemical Products	12.01770	150.9	-0.07		0.13	0.33	0.00	4.93	-1.44
Non-Metallic Mineral Products	2.55597	176.9	0.72		-0.39	0.24	-1.01	0.90	5.36
Cement & Lime	1.38646	172.8	0.68		-1.54	-0.18	-2.76	-3.93	5.49
Basic Metals Alloys & Metal Product	10.74785	161.8	0.24		-0.12	-0.42	-0.06	2.39	-3.06
Iron & Semis	1.56301	148.2	0.94		-1.40	1.01	-0.47	3.82	-7.66
Machinery & Machine Tools	8.93148	134.9	0.30		0.00	0.45	-0.07	2.45	0.82
Transport Equipment & Parts	5.21282	137.6	0.07		0.15	0.00	0.22	2.72	1.33

Annexure-II

Trend of Rate of Inflation for some important items during last six months

Commodities/Major Groups/Groups/Sub-Groups	Weight (%)	Rate of Inflation for the last six months
		May-15	Apr-15	Mar-15	Feb-15	Jan-15	Dec-14
ALL COMMODITIES	100.00	-2.36	-2.65	-2.33	-2.17	-0.95	-0.50
PRIMARY ARTICLES	20.12	-0.77	-0.25	-0.17	1.01	1.38	0.29
Food Articles	14.34	3.80	5.73	6.27	7.83	8.00	4.95
Cereals	3.37	-0.13	0.39	0.00	1.13	1.70	1.35
Rice	1.79	-1.77	-0.04	0.65	3.28	4.00	4.43
Wheat	1.12	2.79	1.79	-1.19	-2.40	-1.63	-2.36
Pulses	0.72	22.84	15.38	13.22	14.50	12.56	5.93
Vegetables	1.74	-5.54	-1.32	9.27	15.28	18.63	-6.41
Potato	0.20	-51.95	-41.14	-21.50	-5.20	-8.01	0.52
Onion	0.18	20.41	29.97	36.49	25.96	-3.34	-19.70
Fruits	2.11	8.65	14.22	12.56	16.84	16.95	17.77
Milk	3.24	6.85	7.42	7.48	7.99	9.57	9.41
Egg, Meat & Fish	2.41	0.86	4.01	2.62	1.59	-1.26	1.15
Non-Food Articles	4.26	-2.24	-6.18	-6.94	-5.64	-4.16	-3.62
Fibres	0.88	-11.91	-13.81	-18.91	-22.69	-19.06	-13.86
Oil Seeds	1.78	-1.01	-1.80	-1.26	-0.20	0.54	-0.88
Minerals	1.52	-28.41	-28.65	-29.58	-29.55	-30.42	-22.73
FUEL & POWER	14.91	-10.51	-13.03	-12.23	-14.77	-11.02	-7.82
Liquefied petroleum gas	0.91	-5.18	-6.06	-7.92	-8.86	-7.65	-3.19
Petrol	1.09	-11.29	-18.44	-17.70	-21.80	-17.43	-11.96
High speed diesel	4.67	-11.62	-14.39	-12.11	-17.59	-11.43	-6.31
MANUFACTURED PRODUCTS	64.97	-0.64	-0.52	-0.19	0.26	1.05	1.44
Food Products	9.97	-0.64	-1.05	0.59	1.25	2.02	1.30
Sugar	1.74	-9.06	-8.86	-4.85	-2.20	-1.63	-1.33
Edible Oils	3.04	0.27	-1.03	-1.16	-0.82	-0.41	-3.44
Beverages, Tobacco & Tobacco Product	1.76	2.73	3.09	3.83	4.06	3.91	8.37
Cotton Textiles	2.61	-6.28	-5.26	-4.37	-2.47	-0.63	0.00
Man Made Textiles	2.21	-2.96	-1.19	-1.78	-1.71	-1.49	0.90
Wood & Wood Products	0.59	3.21	1.59	1.23	2.99	4.24	5.29
Paper & Paper Products	2.03	2.28	2.48	3.59	3.56	3.70	4.14
Leather & Leather Products	0.84	-0.55	-2.14	-2.53	-2.34	-1.25	-0.55
Rubber & Plastic Products	2.99	-0.67	-1.33	-1.07	-0.74	0.13	0.88
Chemicals & Chemical Products	12.02	-1.44	-1.63	-1.11	-0.79	0.46	1.67
Non-Metallic Mineral Products	2.56	5.36	6.54	6.69	5.26	5.23	4.26
Cement & Lime	1.39	5.49	7.87	8.29	5.20	4.44	2.73
Basic Metals Alloys & Metal Product	10.75	-3.06	-2.70	-3.40	-2.21	-0.96	-0.24
Iron & Semis	1.56	-7.66	-5.47	-6.29	-5.02	-2.42	0.13
Machinery & Machine Tools	8.93	0.82	1.12	1.35	1.81	2.19	1.51
Transport Equipment & Parts	5.21	1.33	1.25	1.10	0.96	0.81	0.07

Wholesale Price Index shows modest monthly rise while annual inflation remains negative, signaling disinflationary pressures. The May 2015 Wholesale Price Index (base 2004 05=100) rose month on month to a provisional level above April while the annual rate of inflation based on monthly WPI remained negative; build up inflation for the financial year to date was marginally lower than the corresponding period of the previous year. Primary Articles, Fuel & Power and Manufactured Products each showed distinct month on month movements: primary articles rose with mixed food and non food item changes, fuel & power posted a notable increase driven by petroleum products and electricity, and manufactured products recorded a small overall rise with divergent subgroup performance.