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

Annexure-II

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