Press Information Bureau

Government of India

Ministry of Commerce & Industry

14-March-2017 12:02 IST

Review for the month of February, 2017

The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of February, 2017 rose by 0.5 percent to 185.5 (provisional) from 184.6 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 6.55% (provisional) for the month of February, 2017 (over February, 2016) as compared to 5.25% (provisional) for the previous month and -0.85% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 5.82% compared to a build up rate of -1.14% 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 0.9 percent to 258.1 (provisional) from 255.7 (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 0.1 percent to 267.5 (provisional) from 267.2 (provisional) for the previous month due to higher price of fruits & vegetables (5%), jowar and poultry chicken (2% each) and rice, bajra, fish-inland, ragi and beef & buffalo meat (1% each). However, the price of gram (14%), arhar (7%), condiments & spices (6%), urad (5%), tea and masur (3% each), egg, moong and maize (2% each) and wheat and coffee (1% each) declined.

The index for ‘Non-Food Articles’ group rose by 1.5 percent to 234.8 (provisional) from 231.3 (provisional) for the previous month due to higher price of flowers (13%), copra (coconut) (9%), raw rubber (8%), raw silk (4%), raw cotton (3%), gingelly seed (2%) and coir fibre, fodder, safflower (kardi seed), niger seed and cotton seed (1% each). However, the price of linseed, rape & mustard seed, soyabean and mesta (2% each) and sunflower, raw wool, groundnut seed, hides (raw) and castor seed (1% each) declined.

The index for ‘Minerals’ group rose by 9.0 percent to 234.8 (provisional) from 215.5 (provisional) for the previous month due to higher price of manganese ore (24%), crude petroleum (13%), copper ore (11%), chromite (8%), iron ore (3 %) and zinc concentrate (2%). However, the price of sillimanite (11%) declined.

FUEL & POWER (Weight 14.91%)

The index for this major group rose by 1.3 percent to 203.8 (provisional) from 201.2 (provisional) for the previous month due to higher price of coking coal (15%), aviation turbine fuel (3%), bitumen (2%) and kerosene, high speed diesel, LPG and lignite (1% each). However, the price of furnace oil (1%) declined.

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group remained unchanged at its previous month’s level of 158.8 (provisional). The groups and items for which the index showed variations during the month are as follows:-

The index for ‘Beverages, Tobacco & Tobacco Products ‘ group declined by 0.2 percent to 221.5 (provisional) from 221.9 (provisional) for the previous month due to lower price of zarda (7%) and beer (3%). However, the price of soft drinks & carbonated water and rectified spirit (1% each) moved up.

The index for ‘ Textiles ‘ group rose by 0.2 percent to 142.6 (provisional) from 142.3 (provisional) for the previous month due to higher price of tyre cord fabric (4%) and man made fabric (2%). However, the price of jute sacking cloth and jute sacking bag (1% each) declined.

The index for ‘Wood & Wood Products’ group declined by 0.4 percent to 191.8 (provisional) from 192.6 (provisional) for the previous month due to lower price of plywood & fibre board (1%).

The index for ‘Leather & Leather Products’ group declined by 0.3 percent to 145.1 (provisional) from 145.5 (provisional) for the previous month due to lower price of leather footwear (1%). However, the price of leathers (1%) moved up.

The index for ‘Rubber & Plastic Products’ group rose by 0.2 percent to 148.9 (provisional) from 148.6 (provisional) for the previous month due to higher price of rubber products (1%).

The index for ‘Chemicals & Chemical Products’ group rose by 0.4 percent to 151.5 (provisional) from 150.9 (provisional) for the previous month due to higher price of non-cyclic compound (4%), turpentine oil (3%) and basic organic chemicals, synthetic resin, explosives, ayurvedic medicines and toilet soap (1% each). However, the price of rubber chemicals and pesticides (1% each) declined.

The index for ‘Non-Metallic Mineral Products ‘group rose by 0.1 percent to 178.8 (provisional) from 178.6 (provisional) for the previous month due to higher price of railway sleeper (3%) and grey cement (1%). However, the price of glass bottles & bottleware and marbles (1% each) declined.

The index for ‘Basic Metals, Alloys & Metal Products’ group declined by 0.5 percent to 160.4 (provisional) from 161.2 (provisional) for the previous month due to lower price of pig iron (5%), pipes/tubes/rods/strips, gp/gc sheets and wire rods (3% each), pencil ingots and HRC (2% each) and rounds, angles, sheets, CRC and rebars (1% each). However, the price of ferro chrome (7 %) and steel castings, gold & gold ornaments, pressure cooker, silver, iron & steel wire, steel: pipes & tubes, ferro silicon and aluminium (1% each) moved up.

The index for ‘Transport, Equipment & Parts’ group rose by 0.5 percent to 140.5 (provisional) from 139.8 (provisional) for the previous month due to higher price of auto rickshaw / tempo / matador (4%) and auto parts (1%).

FINAL INDEX FOR THE MONTH OF DECEMBER, 2016 (BASE YEAR: 2004-05=100)

For the month of December, 2016, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 183.3 as compared to 182.8 (provisional) and annual rate of inflation based on final index stood at 3.68 percent as compared to 3.39 percent (provisional) respectively as reported on 16.01.2017.

Next date of press release: 17/04/2017 for the month of March, 2017

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 February, 2017
Commodities/Major Groups/Groups/Sub-Groups	Weight	WPI Feb- 2017	Latest month over month			Build up from March		Year on year
			2015-16		2016-17	2015-16	2016-17	2015-16	2016-17
ALL COMMODITIES	100.00000	185.5	-0.74		0.49	-1.14	5.82	-0.85	6.55
PRIMARY ARTICLES	20.11815	258.1	-2.65		0.94	2.85	4.88	2.03	5.00
Food Articles	14.33709	267.5	-3.05		0.11	4.49	3.08	3.91	2.69
Cereals	3.37323	255.9	0.25		0.39	4.37	6.05	3.30	6.09
Rice	1.79348	249.4	0.00		1.38	2.27	4.48	-0.08	4.40
Wheat	1.11595	247.7	0.00		-1.04	6.08	8.55	6.03	8.36
Pulses	0.71662	352.4	-4.10		-10.42	37.78	1.70	38.37	-0.79
Vegetables	1.73553	203.3	-23.73		3.62	1.98	-4.28	-2.94	-8.05
Potato	0.20150	137.1	-0.73		-9.33	-0.53	-14.90	-7.39	-8.84
Onion	0.17794	251.4	-12.68		-0.40	-6.83	-8.11	-10.20	-18.85
Fruits	2.10717	253.7	2.11		5.62	-2.87	6.82	-1.66	7.14
Milk	3.23818	261.6	0.36		0.11	1.78	3.03	1.74	3.93
Egg, Meat & Fish	2.41384	309.5	0.10		0.29	2.79	2.89	3.40	3.79
Non-Food Articles	4.25756	234.8	-2.82		1.51	8.79	6.82	7.09	6.53
Fibres	0.87737	252.4	-1.31		2.35	9.26	20.82	10.17	19.45
Oil Seeds	1.78051	211.1	-2.51		-0.09	2.54	-0.24	3.46	0.72
Minerals	1.52350	234.8	4.31		8.96	-26.35	21.72	-27.65	31.03
FUEL & POWER	14.91021	203.8	-1.12		1.29	-10.43	18.21	-7.06	21.02
Liquefied petroleum gas	0.91468	168.9	-1.58		1.14	-0.49	5.50	-0.37	4.32
Petrol	1.09015	179.4	-0.52		0.39	-6.90	20.56	-1.03	16.72
High speed diesel	4.67020	231.4	-0.46		1.09	-14.47	26.24	-7.75	33.14
MANUFACTURED PRODUCTS	64.97164	158.8	0.33		0.00	-0.45	3.05	-0.52	3.66
Food Products	9.97396	194.5	0.74		0.00	4.64	8.30	4.34	9.27
Sugar	1.73731	226.8	3.66		2.30	7.22	19.18	5.23	21.22
Edible Oils	3.04293	157.6	0.13		-0.38	2.97	5.28	2.40	5.70
Beverages, Tobacco & Tobacco Product	1.76247	221.5	1.21		-0.18	2.66	4.58	2.91	6.18
Cotton Textiles	2.60526	162.2	0.39		-0.06	-1.14	4.11	-1.27	4.04
Man Made Textiles	2.20573	130.9	0.31		0.85	-2.49	1.39	-2.34	1.24
Wood & Wood Products	0.58744	191.8	0.41		-0.42	3.69	-2.64	3.80	-2.49
Paper & Paper Products	2.03350	157.7	-0.06		0.00	1.64	1.22	2.64	1.48
Leather & Leather Products	0.83509	145.1	0.76		-0.27	2.74	-0.48	2.96	-0.75
Rubber & Plastic Products	2.98697	148.9	-0.14		0.20	-2.16	2.48	-1.89	2.62
Chemicals & Chemical Products	12.01770	151.5	0.00		0.40	-0.93	1.27	-0.73	1.34
Non-Metallic Mineral Products	2.55597	178.8	-0.45		0.11	-0.78	0.22	0.62	0.85
Cement & Lime	1.38646	175.2	-0.63		0.52	-2.98	-0.28	-0.92	1.62
Basic Metals Alloys & Metal Product	10.74785	160.4	0.94		-0.50	-6.92	4.56	-7.89	6.44
Iron & Semis	1.56301	140.7	-0.45		-2.02	-11.42	3.23	-12.82	6.67
Machinery & Machine Tools	8.93148	135.4	0.22		0.00	0.00	0.22	-0.15	0.30
Transport Equipment & Parts	5.21282	140.5	0.07		0.50	1.24	1.08	1.39	1.08

 

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
		Feb-17	Jan-17	Dec-16	Nov-16	Oct-16	Sept-16
ALL COMMODITIES	100.00	6.55	5.25	3.68	3.38	3.79	3.80
PRIMARY ARTICLES	20.12	5.00	1.27	0.90	1.95	4.18	5.36
Food Articles	14.34	2.69	-0.56	-0.77	2.10	4.79	6.39
Cereals	3.37	6.09	5.94	9.67	9.61	8.34	9.07
Rice	1.79	4.40	2.97	6.87	7.29	7.04	7.10
Wheat	1.12	8.36	9.49	15.78	13.83	9.17	9.97
Pulses	0.72	-0.79	6.21	17.78	21.78	22.02	23.99
Vegetables	1.74	-8.05	-32.32	-34.89	-23.74	-10.01	-10.91
Potato	0.20	-8.84	-0.20	11.51	36.82	60.58	73.60
Onion	0.18	-18.85	-28.86	-37.20	-51.51	-66.06	-70.59
Fruits	2.11	7.14	3.58	-1.50	2.41	6.03	14.14
Milk	3.24	3.93	4.19	4.11	4.19	4.35	4.43
Egg, Meat & Fish	2.41	3.79	3.59	2.73	5.82	6.20	7.44
Non-Food Articles	4.26	6.53	1.98	0.54	0.00	2.49	4.67
Fibres	0.88	19.45	15.18	11.88	14.05	17.91	19.32
Oil Seeds	1.78	0.72	-1.72	-3.53	-5.05	-3.15	2.25
Minerals	1.52	31.03	25.44	24.76	5.85	1.39	-3.79
FUEL & POWER	14.91	21.02	18.14	8.65	7.07	6.24	5.64
Liquefied petroleum gas	0.91	4.32	1.52	2.09	1.87	0.94	-0.74
Petrol	1.09	16.72	15.66	8.52	5.54	3.57	1.25
High speed diesel	4.67	33.14	31.10	20.25	19.26	19.32	19.08
MANUFACTURED PRODUCTS	64.97	3.66	3.99	3.81	3.14	2.94	2.54
Food Products	9.97	9.27	10.07	10.92	10.73	10.93	11.38
Sugar	1.74	21.22	22.83	28.10	32.00	30.94	32.86
Edible Oils	3.04	5.70	6.25	5.60	3.85	4.46	6.14
Beverages, Tobacco & Tobacco Product	1.76	6.18	7.67	7.71	7.56	7.67	7.67
Cotton Textiles	2.61	4.04	4.51	4.45	3.48	3.59	3.20
Man Made Textiles	2.21	1.24	0.70	-0.39	-0.92	-0.84	-1.06
Wood & Wood Products	0.59	-2.49	-1.68	-0.67	-0.25	0.41	3.30
Paper & Paper Products	2.03	1.48	1.41	1.68	1.81	0.97	1.10
Leather & Leather Products	0.84	-0.75	0.28	0.90	1.45	1.87	0.07
Rubber & Plastic Products	2.99	2.62	2.27	1.92	1.44	1.02	0.61
Chemicals & Chemical Products	12.02	1.34	0.94	0.60	0.47	0.13	-0.07
Non-Metallic Mineral Products	2.56	0.85	0.28	0.22	0.06	1.92	1.64
Cement & Lime	1.39	1.62	0.46	-0.06	-0.91	2.54	1.95
Basic Metals Alloys & Metal Product	10.75	6.44	7.97	5.95	3.03	1.23	-0.90
Iron & Semis	1.56	6.67	8.38	5.17	1.63	-0.36	-6.26
Machinery & Machine Tools	8.93	0.30	0.52	0.52	0.44	0.37	0.22
Transport Equipment & Parts	5.21	1.08	0.65	1.38	1.30	1.45	1.60

MJPS

Wholesale price inflation rises, driven by primary articles and fuel & power, impacting manufacturing input costs. The release presents the Wholesale Price Index (base 2004-05=100) for February 2017, showing a marginal month on month rise in the All Commodities index and a higher annual WPI inflation rate compared to the prior year. It disaggregates changes across Primary Articles, Fuel & Power, and Manufactured Products, naming specific commodities that contributed to increases (notably minerals, coking coal, selected foods and fuels) and those that declined, and provides annexed tables of weights, index levels and short term inflation trends for detailed subgroup analysis.