The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of January, 2019 declined by 0.7 percent to 119.2 (provisional) from 120.1 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 2.76% (provisional) for the month of January, 2019 (over January, 2018) as compared to 3.80% (provisional) for the previous month and 3.02% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 2.49% compared to a build up rate of 2.47% 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 22.62%)

The index for this major group declined by 0.1 percent to 134.5 (provisional) from 134.7 (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 144.1 (provisional) from 144.0 (provisional) for the previous month due to higher price of betel leaves (13%), maize and fish-marine (6% each), ragi (5%), bajra and egg (4% each), coffee, arhar and barley (3% each), moong and masur (2% each) and wheat, pork, poultry chicken, jowar and gram (1% each).  However, the price of peas/chawali (11%), tea (6%), fruits & vegetables (2%) and rajma (1%) declined.

The index for ‘Non-Food Articles’ group rose by 0.8 percent to 125.5 (provisional) from 124.5 (provisional) for the previous month due to higher price of copra (coconut) (6%), soyabean, raw jute and raw silk (5% each), raw rubber and floriculture (3% each) and fodder, gingelly seed, sunflower, skins (raw), hides (raw), linseed and groundnut seed (1% each). However, the price of raw cotton (3%), castor seed and guar seed (2% each) and rape & mustard seed (1%) declined.

The index for ‘Minerals’ group rose by 7.8 percent to 151.4 (provisional) from 140.4 (provisional) for the previous month due to higher price of zinc concentrate (44%), sillimanite (19%), copper concentrate (16%), limestone (3%) and lead concentrate (1%).  However, the price of garnet (15%), manganese ore (3%) and iron ore (2%) declined.

The index for 'Crude Petroleum & Natural Gas' group declined by 9.2 percent to 83.3 (provisional) from 91.7 (provisional) for the previous month due to lower price of crude petroleum (14%).   However, the price of natural gas (3%) moved up.

FUEL & POWER (Weight 13.15%)

The index for this major group declined by 4.1 percent to 99.3 (provisional) from 103.5 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for ‘Coal’ group rose by 0.2 percent to 123.6 (provisional) from 123.4 (provisional) for the previous month due to higher price of coking coal (1%).

The index for ‘Mineral Oils’ group declined by 6.7 percent to 88.4 (provisional) from 94.7 (provisional) for the previous month due to lower price of ATF and furnace oil (16% each), bitumen (15%), LPG (14%), naphtha (8%), kerosene (5%), petrol and HSD (4% each).  However, the price of petroleum coke (1%) moved up.

The index for ‘Electricity’ group declined by 1.5 percent to 110.7 (provisional) from 112.4 (provisional) for the previous month due to lower price of electricity (2%).

MANUFACTURED PRODUCTS (Weight 64.23%)

The index for this major group declined by 0.3 percent to 117.9 (provisional) from 118.3 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for ‘Manufacture of Food Products’ group rose by 0.3 percent to 128.1 (provisional) from 127.7 (provisional) for the previous month due to higher price of powder milk (8%), honey and manufacture of starches & starch products (5% each), wheat bran (4%), manufacture of processed ready to eat food (3%), coffee powder with chicory, chicken/duck   [dressed - fresh/frozen], salt, spices (including mixed spices), manufacture of health supplements and copra oil (2% each) and maida, palm oil, vanaspati, manufacture of cocoa, chocolate & sugar confectionery, sugar, gur, basmati rice, soyabean oil, cotton seed oil, processing & preserving of fish, crustaceans & molluscs and products thereof, instant coffee and manufacture of bakery products (1% each).  However, the price of molasses (7%), processed tea (5%), rice products and gram powder (besan) (3% each), buffalo meat [fresh/frozen], bagasse and rice bran oil (2% each) and mustard oil, processing & preserving of fruit & vegetables, condensed milk, groundnut oil, other meats, preserved/processed, ghee,  manufacture of prepared animal feeds and castor oil (1% each) declined.

The index for ‘Manufacture of Beverages’ group declined by 0.5 percent to 121.4 (provisional) from 122.0 (provisional) for the previous month due to lower price of spirits (2%) and aerated drinks/soft drinks (incl. soft drink concentrates) (1%). However, the price of country liquor (2%) and rectified spirit (1%) moved up.

The index for 'Manufacture of Tobacco Products' group declined by 0.5 percent to 148.7 (provisional) from 149.5 (provisional) for the previous month due to lower price of cigarette (2%).

The index for ‘Manufacture of Textiles’ group declined by 0.3 percent to 118.8 (provisional) from 119.2 (provisional) for the previous month due to lower price of synthetic yarn, manufacture of knitted & crocheted fabrics, manufacture of cordage, rope, twine & netting, manufacture of other textiles, texturised & twisted yarn and weaving & finishing of textiles (1% each).  However, the price of viscose yarn (2%) and woollen yarn (1%) moved up.

The index for ‘Manufacture of Wearing Apparel’ group rose by 1.3 percent to 140.2 (provisional) from 138.4 (provisional) for the previous month due to higher price of manufacture of wearing apparel (woven), except fur apparel (2%).

The index for ‘Manufacture of Leather and Related Products’ group rose by 0.1 percent to 121.2 (provisional) from 121.1 (provisional) for the previous month due to higher price of vegetable tanned leather (4%), belt & other articles of leather (3%) and waterproof footwear and harness, saddles & other related items (1% each). However, the price of gloves of leather (2%) and chrome tanned leather and canvas shoes (1% each) declined.

The index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group declined by 0.1 percent to 133.7 (provisional) from 133.9 (provisional) for the previous month due to lower price of lamination wooden sheets/veneer sheets, wood cutting [processed/sized] and wooden block-compressed or not (1% each). However, the price of timber/wooden plank [sawn/resawn] and plywood block boards (1% each) moved up.

The index for ‘Manufacture of Paper and Paper Products’ group declined by 0.2 percent to 125.0 (provisional) from 125.2 (provisional) for the previous month due to lower price of pulp board (3%), corrugated paper board and kraft paper (2% each) and paper carton/box, newsprint and laminated plastic sheet (1% each). However, the price of tissue paper and laminated paper (2% each) and map litho paper and duplex paper (1% each) moved up.

The index for ‘Printing and Reproduction of Recorded Media’ group declined by 1.4 percent to 145.4 (provisional) from 147.5 (provisional) for the previous month due to lower price of hologram (3d) (7%), journal/periodical (5%) and printed form & schedule and sticker plastic (1% each).  However, the price of printed books (1%) moved up.

The index for ‘Manufacture of Chemicals and Chemical Products’ group declined by 0.7 percent to 119.2 (provisional) from 120.0 (provisional) for the previous month due to lower price of sulphuric acid (12%), hydrogen peroxide (11%), acetic acid & its derivatives and ethyl acetate (7% each), alkyl benzene and polyester chips or polyethylene terepthalate (pet) chips (6% each), organic solvent and mono ethyl glycol (5% each), urea and nitrogenous fertilizer [others] (4% each), carbon black, phthalic anhydride and aniline (including pna, ona, ocpna) (3% each), ethylene oxide, menthol, plasticizer, fatty acid, polyester film (metalized) and polyethylene (2% each) and poly propylene (pp), safety matches (match box), polystyrene [expandable], liquid air & other gaseous products, soda ash/washing soda, organic chemicals, polyester fibre fabric, acrylic fibre and varnish (all types) (1% each).  However, the price of agro chemical formulation, printing ink and creams & lotions for external application (4% each), catalysts, caustic soda (sodium hydroxide), camphor and amine (3% each), sodium silicate, ammonium sulphate, organic surface active agent, other inorganic chemicals and hair oil/body oil (2% each) and toilet soap, alcohols, explosive, detergent cake, washing soap cake/bar/powder, ammonium nitrate, paint, ammonia gas, XLPE compound, foundry chemical, mosquito coil, insecticide & pesticide, aromatic chemicals and perfume/scent (1% each) moved up.

The index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 1.1 percent to 125.5 (provisional) from 124.1 (provisional) for the previous month due to higher price of antidiabetic drug excluding insulin (i.e. tolbutam) (5%), API & formulations of vitamins (3%), plastic capsules and anti-malarial drugs (2% each) and sulpha drugs, antioxidants and vaccine for hepatitis-B (1% each). However, the price of anti allergic drugs (8%), vials/ampoule, glass, empty or filled (2%) and anti-retroviral drugs for HIV treatment and medical accessories (1% each) declined.

The index for ‘Manufacture of Rubber and Plastics Products’ group declined by 0.1 percent to 110.1 (provisional) from 110.2 (provisional) for the previous month due to lower price of rubberized dipped fabric (4%), polyester film (non-metalized) (3%), plastic tape, medium & heavy commercial vehicle tyre and rubber tread (2% each) and plastic bag, rubber crumb, polythene film, plastic box/container, plastic film, polypropylene film and solid rubber tyres/wheels (1% each). However, the price of condoms (9%), plastic button (6%), rubber components & parts (4%), processed rubber and tooth brush (3% each), medium & heavy commercial vehicle tube and tractor tyre (2% each) and motor car tube, rubber cloth/sheet, conveyer belt (fibre based), cycle/cycle rickshaw tyre, 2/3 wheeler rubber tube, 2/3 wheeler tyre, plastic tube (flexible/non-flexible) and elastic webbing (1% each) moved up.

The index for ‘Manufacture of Other Non-Metallic Mineral Products’ group rose by 1.0 percent to 116.3 (provisional) from 115.2 (provisional) for the previous month due to higher price of clinker (5%), glass bottle (4%), marble slab and white cement (3% each), railway sleeper and ceramic tiles (vitrified tiles) (2% each) and ordinary portland cement, poles & posts of concrete, non ceramic tiles, porcelain sanitary ware and cement blocks (concrete) (1% each). However, the price of graphite rod (7%) and ordinary sheet glass, plain bricks, lime and calcium carbonate and cement superfine (1% each) declined.

The index for ‘Manufacture of Basic Metals’ group declined by 2.1 percent to 110.1 (provisional) from 112.5 (provisional) for the previous month due to lower price of stainless steel pencil ingots/billets/slabs (9%), sponge iron/direct reduced iron (DRI) (6%), GP/GC sheet, hot rolled (HR) coils & sheets, including narrow strip and ferrochrome (4% each), cold rolled (CR) coils & sheets, including narrow strip, aluminium powder and copper shapes-bars/rods/plates/strips (3% each), stainless steel coils, strips & sheets, aluminium alloys, MS pencil ingots, aluminium metal, pig iron and aluminium ingot (2% each) and aluminium shapes-bars/rods/flats, brass metal/sheet/coils, other ferro alloys, MS wire rods, alloy steel wire rods, mild steel (MS) blooms, alumnium foil, silicomanganese, angles, channels, sections, steel (coated/not), copper metal/copper rings, galvanized iron pipes, cast iron, castings, aluminium disk & circles and MS bright bars (1% each). However, the price of alloy steel castings (3%) and stainless steel tubes, zinc metal/zinc blocks, MS castings and steel cables (1% each) moved up.

The index for ‘Manufacture of Fabricated Metal Products, Except Machinery and Equipment’ group declined by 0.1 percent to 116.0 (provisional) from 116.1 (provisional) for the previous month due to lower price of sanitary fittings of iron & steel (9%), steel door (3%), jigs & fixture, forged steel rings and metal cutting tools & accessories (2% each) and stainless steel utensils, cylinders, pressure cooker and electrical stamping- laminated or otherwise (1% each).  However, the price of copper bolts, screws, nuts (2%) and hand tools, stainless steel tank, boilers and steel structures (1% each) moved up.

The index for ‘Manufacture of Computer, Electronic and Optical Products’ group declined by 0.4 percent to 111.9 (provisional) from 112.3 (provisional) for the previous month due to lower price of meter (non-electrical) (5%), capacitors (4%) and computer peripherals (1%). However, the price of sunglasses (5%), electronic printed circuit board (PCB)/micro circuit (2%) and colour TV  and air conditioner (1% each) moved up.

The index for ‘Manufacture of Electrical Equipment’ group rose by 0.2 percent to 112.2 (provisional) from 112.0 (provisional) for the previous month due to higher price of microwave oven (6%), flourescent tube (4%), electric switch and electric welding machine (3% each), jelly filled cables (2%) and PVC insulated cable, transformer, washing machines/laundry machines and amplifier (1% each).  However, the price of aluminium/alloy conductor and solenoid valve (3% each), rotor/magneto rotor assembly, electric filament type lamps, electric mixers/grinders/food processors, incandescent lamps and generators & alternators (2% each) and electrical relay/conductor, aluminium wire, electrical resistors (except heating resistors), insulating & flexible wire, air coolers and rubber insulated cables (1% each) declined.

The index for 'Manufacture of Machinery and Equipment' group rose by 0.1 percent to 111.8 (provisional) from 111.7 (provisional) for the previous month due to higher price of pressure vessel & tank for fermentation & other food processing (9%), conveyors-non-roller type (4%), agriculture implements and hydraulic equipment (2% each) and harvesters, open end spinning machinery, oil pump, industrial valve, air gas compressor including compressor for refrigerator, drilling machine, separator and excavator (1% each). However, the price of sugar machinery (4%), air conditioning plant (3%), pharmaceutical machinery, chemical equipment & system, filtration equipment, deep freezers and roller & ball bearings (2% each) and manufacture of bearings, gears, gearing & driving elements, gasket kit, rice mill machinery, packing machine, printing machinery, lathes, mining, quarrying & metallurgical machinery/parts, concrete vibrator & mixture, threshers, cranes, machinery for plastic products-extruded and evaporator (1% each) declined.

The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group rose by 0.2 percent to 113.0 (provisional) from 112.8 (provisional) for the previous month due to higher price of engine (3%), seat for motor vehicles and chassis of different vehicle types (2% each) and head lamp, gear box & parts and radiators & coolers (1% each). However, the price of axles of motor vehicles (4%), crankshaft (3%), minibus/bus (2%) and brake pad/brake liner/brake block/brake rubber, [others], chain, shafts of all kinds and release valve (1% each) declined.

The index for ‘Manufacture of Other Transport Equipment’ group rose by 0.4 percent to 112.9 (provisional) from 112.4 (provisional) for the previous month due to higher price of wagons (5%) and motor cycles (1%). However, the price of scooters (1%) declined.

The index for ‘Manufacture of Furniture’ group rose by 0.7 percent to 128.4 (provisional) from 127.5 (provisional) for the previous month due to higher price of foam and rubber mattress (4%) and wooden furniture (1%). However, the price of hospital furniture (3%) and steel shutter gate (1%) declined.

The index for 'Other Manufacturing' group declined by 6.7 percent to 106.9 (provisional) from 114.6 (provisional) for the previous month due to lower price of gold & gold ornaments (8%), football (4%) and plastic moulded-others toys and carrom board (1% each). However, the price of silver (7%) and cricket ball and cricket bat (1% each) moved up.

WPI FOOD INDEX (Weight 24.38%)

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 0.07% in December, 2018 to 1.84% in January, 2019.

FINAL INDEX FOR THE MONTH OF NOVEMBER, 2018 (BASE YEAR: 2011-12=100)

For the month of November, 2018, the final Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) stood at 121.6 as compared to 121.8 (provisional) and annual rate of inflation based on final index stood at 4.47 percent as compared to 4.64 percent (provisional) respectively as reported on 14.12.2018.

Next date of press release: 14/03/2019 for the month of February, 2019

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

Annexure-I

Wholesale Price Index and Rates of Inflation (Base Year: 2011-12=100)