The annual rate of inflation based on all India Wholesale Price Index (WPI) number is2.61% (Provisional) for the month of May, 2024(over May, 2023). Positive rate of inflation in May, 2024 is primarily due toincreasein prices offood articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc.The index numbers and inflation rate for the last three months of all commodities and WPI components are given below:
Index Numbers and Annual Rate of Inflation (Y-o-Y in %)* |
All Commodities/Major Groups | Weight (%) | Mar-24 | Apr-24 (P) | May-24 (P) |
Index | Inflation | Index | Inflation | Index | Inflation |
All Commodities | 100.00 | 151.4 | 0.26 | 153.0 | 1.26 | 153.3 | 2.61 |
I. Primary Articles | 22.62 | 183.2 | 4.57 | 186.7 | 5.01 | 187.7 | 7.20 |
II. Fuel & Power | 13.15 | 152.1 | -2.75 | 154.8 | 1.38 | 150.6 | 1.35 |
III. Manufactured Products | 64.23 | 140.1 | -0.85 | 140.8 | -0.42 | 141.7 | 0.78 |
Food Index | 24.38 | 180.4 | 4.82 | 183.6 | 5.52 | 185.7 | 7.40 |
Note: P: Provisional, *Annual rate of WPI inflation calculated over the corresponding month of previous year
The month over month change in WPI index for the month of May, 2024 stood at 0.20% as compared to Apr, 2024. The monthly change in WPI index for last six-month is summarized below:
Month Over Month (M-o-M in %) change in WPI Index# |
All Commodities/Major Groups | Weight | Dec-23 | Jan-24 | Feb-24 | Mar-24 | Apr-24 (P) | May-24 (P) |
All Commodities | 100.00 | -0.85 | -0.40 | 0.00 | 0.13 | 1.06 | 0.20 |
I. Primary Articles | 22.62 | -2.56 | -0.77 | 0.06 | 0.94 | 1.91 | 0.54 |
II. Fuel & Power | 13.15 | -0.26 | -0.58 | 0.00 | -1.81 | 1.78 | -2.71 |
III. Manufactured Products | 64.23 | -0.14 | -0.21 | 0.07 | 0.21 | 0.50 | 0.64 |
Food Index | 24.38 | -2.18 | -1.00 | 0.17 | 1.12 | 1.77 | 1.14 |
Note: P: Provisional, #Monthly rate of change, based on month over month (M-o-M) WPI calculated over the preceding month
Month-over-Month Change in Major Groups of WPI:
Primary Articles (Weight 22.62%):- The index for this major group increased by 0.54% to 187.7 (provisional) in May, 2024 from 186.7 (provisional) for the month of April, 2024. Prices of food articles (1.48%) and minerals (1.08%) increased in May, 2024 as compared to April, 2024. Prices of non-food articles (-1.26%) and crude petroleum & natural gas (-3.56%) declined in May, 2024 as compared to April, 2024.
Fuel & Power (Weight 13.15%): - The index for this major group declined by 2.71% to 150.6 (provisional) in May, 2024 from 154.8(provisional) for the month of April, 2024. Prices of mineral oils and coal remain unchanged in May, 2024 as compared to April, 2024. Prices of electricity (-11.67%) declined in May, 2024 as compared to April, 2024.
Manufactured Products (Weight 64.23%):- The index for this major group increased by 0.64% to 141.7 (provisional) in May, 2024 from 140.8(provisional) forthe month of April, 2024. Out of the 22 NIC two-digit groups for manufactured products, 13 groups witnessed an increase in prices,8 groups have witnessed a decrease in pricesand1group remained constant. Some of the important groups that showed month-over-month increase in prices are basic metals; food products; computer, electronic & optical products; electrical equipment; other manufacturingetc. Some of the groups that witnessed a decrease in prices are fabricated metal products, except machinery & equipment;other non-metallic mineral products;chemicals & chemical products;tobacco products;other transport equipment etc.in May, 2024 as compared to April, 2024.
WPI Food Index (Weight 24.38%): The Food Index consisting of 'food articles' from primary articles group and 'food product' from manufactured products group have increased from 183.6 in April, 2024 to 185.7 in May, 2024. The rate of inflation based on WPI Food Index increased from 5.52% in April, 2024 to 7.40% in May, 2024.
Final Index for the month of March, 2024 (Base Year: 2011-12=100): For the month of March, 2024 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 151.4 and 0.26% respectively. The details of all India Wholesale Price Indices and Rates of Inflation for different commodity groups based on updated figures are at Annex I. The Annual rate of Inflation (Y-o-Y) based on WPI for different commodity groups in the last six months are at Annex II. WPI for different commodity groups in the last six months are at Annex III.
Response Rate: The WPI for May, 2024 has been compiled at a weighted response rate of 88.8 percent, while the final figure for March, 2024 is based on the weighted response rate of 95.3 percent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI. This press release, item indices, and inflation numbers are available at our home page http://eaindustry.nic.in.
Next date of Press Release: WPI for the month of May, 2024 would be released on 15/07/2024.
Note: DPIIT releases index number of wholesale price in India on monthly basis on 14th of every month (or next working day) with a time lag of two weeks of the reference month, and the index number is compiled with data received from institutional sources and selected manufacturing units across the country. This press release contains WPI (Base Year 2011-12=100) for the month of May 2024 (Provisional), March, 2024 (Final) and other months/years. Provisional figures of WPI are finalised after 10 weeks (from the month of reference), and then frozen thereafter.
Annex-I
All India Wholesale Price Indices and Rates of Inflation (Base Year: 2011-12=100) for May, 2024
Commodities/Major Groups/Groups/Sub-Groups/Items | Weight | Index May-24* | Month over Month (MoM) | Cumulative Inflation(YoY) | Rate of Inflation (YoY) |
May-23 | May-24* | Apr-May 2023 | Apr-May 2024* | May-23 | May-24* |
ALL COMMODITIES | 100.00 | 153.3 | -1.13 | 0.20 | -2.21 | 1.93 | -3.61 | 2.61 |
I. PRIMARY ARTICLES | 22.62 | 187.7 | -1.52 | 0.54 | -0.03 | 6.09 | -1.90 | 7.20 |
A. Food Articles | 15.26 | 199.1 | -0.44 | 1.48 | 2.74 | 8.78 | 1.63 | 9.82 |
Cereals | 2.82 | 199.6 | -0.22 | 0.05 | 7.29 | 8.87 | 6.89 | 9.01 |
Paddy | 1.43 | 198.1 | 0.57 | 0.35 | 7.25 | 11.91 | 7.33 | 11.79 |
Wheat | 1.03 | 196.0 | -0.80 | -0.51 | 6.88 | 5.84 | 6.20 | 6.00 |
Pulses | 0.64 | 223.9 | -0.54 | 4.04 | 5.74 | 19.26 | 5.82 | 21.95 |
Vegetables | 1.87 | 236.1 | -3.05 | 3.87 | -11.85 | 27.94 | -20.47 | 32.42 |
Potato | 0.28 | 311.7 | 21.02 | 15.44 | -18.64 | 67.64 | -18.10 | 64.05 |
Onion | 0.16 | 204.2 | 0.78 | -0.29 | -13.27 | 58.90 | -7.25 | 58.05 |
Fruits | 1.60 | 202.3 | -5.30 | 2.02 | -1.99 | 1.91 | 0.68 | 5.81 |
Milk | 4.44 | 183.7 | 0.34 | -0.33 | 8.19 | 3.95 | 8.18 | 3.61 |
Eggs, Meat & Fish | 2.40 | 178.4 | 3.57 | 3.36 | 1.49 | 0.78 | 2.07 | 0.68 |
B. Non-Food Articles | 4.12 | 156.3 | -1.69 | -1.26 | -8.11 | -4.20 | -9.51 | -3.99 |
Oil Seeds | 1.12 | 179.4 | -1.56 | -0.06 | -15.59 | -5.70 | -15.60 | -4.98 |
C. Minerals | 0.83 | 224.0 | -4.36 | 1.08 | 5.02 | 1.41 | 2.19 | 4.28 |
D. Crude Petroleum & Natural gas | 2.41 | 156.9 | -7.81 | -3.56 | -6.32 | 7.28 | -13.66 | 9.80 |
Crude Petroleum | 1.95 | 132.4 | -10.64 | -6.83 | -18.67 | 8.67 | -27.01 | 11.07 |
II. FUEL & POWER | 13.15 | 150.6 | -2.69 | -2.71 | -4.29 | 1.36 | -9.17 | 1.35 |
LPG | 0.64 | 120.0 | -12.61 | -1.15 | -17.54 | -3.86 | -24.35 | 2.48 |
Petrol | 1.60 | 157.8 | -1.57 | -0.44 | -4.26 | -0.06 | -9.51 | 0.51 |
HSD | 3.10 | 167.7 | -1.28 | -0.47 | -8.67 | -1.47 | -17.03 | -1.06 |
III. MANUFACTURED PRODUCTS | 64.23 | 141.7 | -0.57 | 0.64 | -2.66 | 0.18 | -3.03 | 0.78 |
Mf/o Food Products | 9.12 | 163.2 | -1.00 | 0.43 | -6.25 | 1.97 | -6.97 | 2.71 |
Vegetable & Animal Oils and Fats | 2.64 | 147.4 | -3.67 | -0.14 | -28.09 | -3.31 | -29.92 | -1.54 |
Mf/o Beverages | 0.91 | 133.4 | -0.23 | 0.30 | 2.11 | 1.87 | 1.71 | 2.14 |
Mf/o Tobacco Products | 0.51 | 175.4 | 0.94 | -1.18 | 3.74 | 3.43 | 4.32 | 2.33 |
Mf/o Textiles | 4.88 | 135.9 | -0.95 | 0.30 | -7.20 | -0.62 | -8.48 | 0.00 |
Mf/o Wearing Apparel | 0.81 | 152.5 | 0.33 | -0.33 | 2.15 | 2.00 | 2.25 | 1.67 |
Mf/o Leather and Related Products | 0.54 | 123.9 | 0.08 | 0.73 | 1.86 | 0.00 | 1.73 | 0.32 |
Mf/o Wood and of Products of Wood and Cork | 0.77 | 149.3 | 0.76 | -0.07 | 0.42 | 3.39 | 2.33 | 2.97 |
Mf/o Paper and Paper Products | 1.11 | 138.9 | -0.82 | 1.39 | -5.42 | -5.90 | -6.59 | -4.86 |
Mf/o Chemicals and Chemical Products | 6.47 | 135.8 | -1.06 | -0.15 | -4.10 | -3.17 | -5.03 | -2.72 |
Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products | 1.99 | 144.6 | 0.07 | 0.49 | 2.51 | 0.98 | 2.73 | 1.19 |
Mf/o Rubber and Plastics Products | 2.30 | 128.2 | -0.62 | -0.08 | -2.92 | 0.20 | -3.33 | 0.47 |
Mf/o other Non-Metallic Mineral Products | 3.20 | 132.2 | -0.37 | -0.45 | 2.86 | -1.82 | 2.12 | -1.86 |
Cement, Lime and Plaster | 1.64 | 132.6 | -0.65 | -0.75 | 2.23 | -3.38 | 0.88 | -3.42 |
Mf/o Basic Metals | 9.65 | 144.1 | -1.17 | 2.93 | -9.55 | -1.66 | -9.23 | 0.35 |
Mild Steel - Semi Finished Steel | 1.27 | 120.1 | -0.33 | 1.95 | -8.44 | -2.98 | -8.18 | -1.88 |
Mf/o Fabricated Metal Products, Except Machinery and Equipment | 3.15 | 136.3 | 0.14 | -0.51 | -0.07 | -2.11 | -0.64 | -2.43 |
Note: * = Provisional. Mf/o = Manufacture of
Annex-II
Commodities/Major Groups/Groups/Sub-Groups/Items | Weight | WPI based inflation (YoY) figures for last 6 months |
Dec-23 | Jan-24 | Feb-24 | Mar-24 | Apr-24* | May-24* |
ALL COMMODITIES | 100.00 | 0.86 | 0.33 | 0.20 | 0.26 | 1.26 | 2.61 |
I. PRIMARY ARTICLES | 22.62 | 5.73 | 4.07 | 4.55 | 4.57 | 5.01 | 7.20 |
A. Food Articles | 15.26 | 9.32 | 6.91 | 7.07 | 7.05 | 7.74 | 9.82 |
Cereals | 2.82 | 6.57 | 4.60 | 6.63 | 9.04 | 8.72 | 9.01 |
Paddy | 1.43 | 10.54 | 9.51 | 10.25 | 11.74 | 12.03 | 11.79 |
Wheat | 1.03 | 1.16 | -1.86 | 2.39 | 7.48 | 5.69 | 6.00 |
Pulses | 0.64 | 19.76 | 15.95 | 18.37 | 17.18 | 16.58 | 21.95 |
Vegetables | 1.87 | 25.29 | 19.02 | 19.84 | 20.09 | 23.60 | 32.42 |
Potato | 0.28 | -24.59 | -8.18 | 16.16 | 58.43 | 71.97 | 64.05 |
Onion | 0.16 | 82.45 | 23.04 | 28.65 | 56.48 | 59.75 | 58.05 |
Fruits | 1.60 | 4.70 | 0.89 | -3.83 | -3.05 | -1.78 | 5.81 |
Milk | 4.44 | 6.95 | 5.44 | 5.40 | 5.08 | 4.30 | 3.61 |
Eggs, Meat & Fish | 2.40 | -0.78 | -0.76 | -0.47 | -1.75 | 0.88 | 0.68 |
B. Non-Food Articles | 4.12 | -5.20 | -6.39 | -6.52 | -4.25 | -4.41 | -3.99 |
Oil Seeds | 1.12 | -7.21 | -9.18 | -10.43 | -7.17 | -6.41 | -4.98 |
C. Minerals | 0.83 | 6.77 | 10.58 | 3.45 | -0.36 | -1.34 | 4.28 |
D. Crude Petroleum & Natural gas | 2.41 | -0.13 | 0.20 | 8.24 | 4.87 | 4.97 | 9.80 |
Crude Petroleum | 1.95 | 1.18 | 4.13 | 16.65 | 10.26 | 6.52 | 11.07 |
II. FUEL & POWER | 13.15 | -1.39 | -0.45 | -1.71 | -2.75 | 1.38 | 1.35 |
LPG | 0.64 | 4.20 | 0.41 | 3.83 | -10.19 | -9.40 | 2.48 |
Petrol | 1.60 | 1.09 | 0.26 | -0.69 | -0.94 | -0.63 | 0.51 |
HSD | 3.10 | -6.72 | -5.29 | -6.37 | -3.51 | -1.86 | -1.06 |
III. MANUFACTURED PRODUCTS | 64.23 | -0.78 | -1.20 | -1.27 | -0.85 | -0.42 | 0.78 |
Mf/o Food Products | 9.12 | -1.53 | -1.72 | -1.11 | 0.81 | 1.25 | 2.71 |
Vegetable & Animal Oils and Fats | 2.64 | -16.54 | -15.59 | -13.38 | -7.73 | -5.02 | -1.54 |
Mf/o Beverages | 0.91 | 2.25 | 2.00 | 1.53 | 1.69 | 1.60 | 2.14 |
Mf/o Tobacco Products | 0.51 | 3.97 | 5.00 | 5.23 | 4.20 | 4.53 | 2.33 |
Mf/o Textiles | 4.88 | -2.83 | -2.26 | -2.04 | -1.83 | -1.24 | 0.00 |
Mf/o Wearing Apparel | 0.81 | 1.54 | 1.21 | 1.34 | 1.00 | 2.34 | 1.67 |
Mf/o Leather and Related Products | 0.54 | 2.14 | 1.90 | 1.23 | 1.14 | -0.32 | 0.32 |
Mf/o Wood and of Products of Wood and Cork | 0.77 | 3.14 | 3.49 | 4.84 | 4.27 | 3.82 | 2.97 |
Mf/o Paper and Paper Products | 1.11 | -6.74 | -6.47 | -6.82 | -6.12 | -6.93 | -4.86 |
Mf/o Chemicals and Chemical Products | 6.47 | -5.76 | -5.51 | -5.18 | -4.64 | -3.61 | -2.72 |
Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products | 1.99 | 1.06 | 0.56 | 1.05 | 1.20 | 0.77 | 1.19 |
Mf/o Rubber and Plastics Products | 2.30 | -0.47 | -1.09 | -0.78 | -0.08 | -0.08 | 0.47 |
Mf/o other Non-Metallic Mineral Products | 3.20 | 0.45 | -0.67 | -1.11 | -1.11 | -1.78 | -1.86 |
Cement, Lime and Plaster | 1.64 | 0.94 | -1.22 | -1.94 | -2.61 | -3.33 | -3.42 |
Mf/o Basic Metals | 9.65 | -2.51 | -4.60 | -5.72 | -5.13 | -3.65 | 0.35 |
Mild Steel - Semi Finished Steel | 1.27 | -3.44 | -6.16 | -6.49 | -7.14 | -4.07 | -1.88 |
Mf/o Fabricated Metal Products, Except Machinery and Equipment | 3.15 | -0.07 | -0.07 | -1.08 | -2.16 | -1.79 | -2.43 |
Note: * = Provisional. Mf/o = Manufacture of
Annex-III
Commodities/Major Groups/Groups/Sub-Groups/Items | Weight | WPI Numbers for last 6 months |
Dec-23 | Jan-24 | Feb-24 | Mar-24 | Apr-24* | May-24* |
ALL COMMODITIES | 100.00 | 151.8 | 151.2 | 151.2 | 151.4 | 153.0 | 153.3 |
I. PRIMARY ARTICLES | 22.62 | 182.8 | 181.4 | 181.5 | 183.2 | 186.7 | 187.7 |
A. Food Articles | 15.26 | 191.2 | 188.8 | 189.4 | 191.4 | 196.2 | 199.1 |
Cereals | 2.82 | 198.0 | 197.8 | 199.5 | 200.2 | 199.5 | 199.6 |
Paddy | 1.43 | 192.0 | 191.2 | 193.6 | 196.0 | 197.4 | 198.1 |
Wheat | 1.03 | 200.5 | 200.1 | 201.5 | 201.1 | 197.0 | 196.0 |
Pulses | 0.64 | 213.3 | 206.5 | 210.7 | 211.4 | 215.2 | 223.9 |
Vegetables | 1.87 | 224.4 | 205.9 | 199.9 | 211.0 | 227.3 | 236.1 |
Potato | 0.28 | 189.8 | 169.5 | 169.6 | 214.2 | 270.0 | 311.7 |
Onion | 0.16 | 354.5 | 246.7 | 205.2 | 216.1 | 204.8 | 204.2 |
Fruits | 1.60 | 173.9 | 170.6 | 173.4 | 180.9 | 198.3 | 202.3 |
Milk | 4.44 | 181.7 | 182.3 | 183.5 | 184.2 | 184.3 | 183.7 |
Eggs, Meat & Fish | 2.40 | 165.7 | 168.7 | 169.0 | 168.9 | 172.6 | 178.4 |
B. Non-Food Articles | 4.12 | 162.3 | 162.6 | 159.1 | 160.0 | 158.3 | 156.3 |
Oil Seeds | 1.12 | 185.3 | 183.1 | 178.7 | 178.7 | 179.5 | 179.4 |
C. Minerals | 0.83 | 217.7 | 223.7 | 225.0 | 221.6 | 221.6 | 224.0 |
D. Crude Petroleum & Natural gas | 2.41 | 152.2 | 151.7 | 155.0 | 157.1 | 162.7 | 156.9 |
Crude Petroleum | 1.95 | 128.3 | 131.0 | 135.2 | 136.5 | 142.1 | 132.4 |
II. FUEL & POWER | 13.15 | 155.8 | 154.9 | 154.9 | 152.1 | 154.8 | 150.6 |
LPG | 0.64 | 121.6 | 121.0 | 121.9 | 123.4 | 121.4 | 120.0 |
Petrol | 1.60 | 157.2 | 156.5 | 159.2 | 157.9 | 158.5 | 157.8 |
HSD | 3.10 | 172.0 | 171.8 | 172.1 | 170.3 | 168.5 | 167.7 |
III. MANUFACTURED PRODUCTS | 64.23 | 140.0 | 139.7 | 139.8 | 140.1 | 140.8 | 141.7 |
Mf/o Food Products | 9.12 | 161.1 | 160.3 | 160.1 | 162.1 | 162.5 | 163.2 |
Vegetable & Animal Oils and Fats | 2.64 | 140.8 | 140.2 | 141.1 | 145.7 | 147.6 | 147.4 |
Mf/o Beverages | 0.91 | 132.0 | 132.4 | 132.3 | 132.5 | 133.0 | 133.4 |
Mf/o Tobacco Products | 0.51 | 172.7 | 174.2 | 175.2 | 176.3 | 177.5 | 175.4 |
Mf/o Textiles | 4.88 | 133.7 | 134.0 | 134.4 | 134.3 | 135.5 | 135.9 |
Mf/o Wearing Apparel | 0.81 | 151.9 | 150.9 | 151.7 | 151.5 | 153.0 | 152.5 |
Mf/o Leather and Related Products | 0.54 | 124.1 | 123.5 | 123.7 | 123.7 | 123.0 | 123.9 |
Mf/o Wood and of Products of Wood and Cork | 0.77 | 147.6 | 148.1 | 149.5 | 149.1 | 149.4 | 149.3 |
Mf/o Paper and Paper Products | 1.11 | 138.4 | 138.7 | 137.9 | 138.0 | 137.0 | 138.9 |
Mf/o Chemicals and Chemical Products | 6.47 | 135.7 | 135.4 | 135.4 | 135.6 | 136.0 | 135.8 |
Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products | 1.99 | 143.3 | 143.0 | 143.9 | 143.4 | 143.9 | 144.6 |
Mf/o Rubber and Plastics Products | 2.30 | 127.5 | 127.2 | 127.7 | 128.2 | 128.3 | 128.2 |
Mf/o other Non-Metallic Mineral Products | 3.20 | 135.4 | 134.4 | 133.8 | 133.1 | 132.8 | 132.2 |
Cement, Lime and Plaster | 1.64 | 138.9 | 137.2 | 136.2 | 134.3 | 133.6 | 132.6 |
Mf/o Basic Metals | 9.65 | 139.6 | 138.8 | 138.5 | 138.7 | 140.0 | 144.1 |
Mild Steel - Semi Finished Steel | 1.27 | 117.8 | 117.2 | 116.7 | 117.0 | 117.8 | 120.1 |
Mf/o Fabricated Metal Products, Except Machinery and Equipment | 3.15 | 137.9 | 137.8 | 137.6 | 136.2 | 137.0 | 136.3 |
Note: * = Provisional. Mf/o = Manufacture of
Wholesale Price Index shows a year on year inflation uptick in May driven by food and manufacturing price rises. Wholesale Price Index for May 2024 records a provisional annual inflation rate of 2.61% (base 2011 12), driven mainly by increases in food articles and manufactured food products; Primary Articles rose month over month, Fuel & Power declined, and Manufactured Products showed a modest rise with mixed subgroup performance. May WPI is provisional (response rate 88.8%) and subject to revision; annexes present detailed indices and six month trends.
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