Annual rate of inflation, based on monthly WPI, stood at 3.1% (provisional) for Jan. 2020

Speed Post News Network

New Delhi : The official Wholesale Price Index (WPI) for ‘All Commodities’ (Base: 2011-12=100) for the month of January,2020 rose by 0.1 percent to 122.9 (provisional) from 122.8 (provisional) for the previous month.

The annual rate of inflation, based on monthly WPI, stood at 3.1% (provisional) for the month of January, 2020 (over January, 2019) as compared to 2.59% (provisional) for the previous month and 2.76% during the corresponding month of the previous year. Build up inflation rate in the financial year so far is 2.50% compared to a buildup rate of 2.49% in the corresponding period of the previous year, according to a PIB release.

Primary Articles : The index for this major group declined by 1.1 percent to 147.2 (provisional) from 148.8 (provisional) for the previous month. The index for ‘Food Articles’ group declined by 1 percent to 160.8 (provisional) from 162.5 (provisional) for the previous month due to lower price of fruits & vegetables and tea (7% each), arhar (2%), beef and buffalo meat, pork and gram (1% each). However, the price of betel leaves (9%), fish-marine (7%), bajra (4%), masur and peas/chawali (3% each), urad, maize, barley, egg, wheat, poultry chicken and condiments & spices (2% each), fish-inland, moong, mutton and milk (1% each) moved up.

The index for ‘ Non-Food Articles’ group declined by 1.4 percent to 132.1 (provisional) from 134.0 (provisional) for the previous month due to lower price of floriculture (19%), castor seed and skins (raw)  (1% each). However, the price of soyabean (5%), linseed (3%), safflower (kardi seed), raw rubber, rape & mustard seed, raw jute, gaur seed, raw silk, mesta and gingelly seed (sesamum) (2% each), coir fibre, groundnut seed, niger seed and hides (raw) (1% each) moved up.

The index for ‘Minerals’ group declined by 7.2 percent to 142.6 (provisional) from 153.6 (provisional) for the previous month due to lower price of manganese ore (20%), copper concentrate (12%), iron ore (5%). However, the price of lead concentrate and limestone (1% each) moved up.

The index for ‘Crude Petroleum & Natural Gas’ group rose by 2.7 percent to 88.3 (provisional) from 86.0 (provisional) for the previous month due to higher price of crude petroleum (4%).

Fuel & Power: The index for this major group rose by 1.4 percent to 102.7 (provisional) from 101.3 (provisional) for the previous month. The index for ‘Mineral Oils’ group rose by 2.5 percent to 93.5 (provisional) from 91.2 (provisional) for the previous month due to higher price of furnace oil (23%), naphtha, ATF and LPG (3% each), HSD (2%), kerosene (1%). However, the price of bitumen (4%) declined.

Manufactured Products : The index for this major group rose by 0.4 percent to 118.5 (provisional) from 118.0 (provisional) for the previous month.