Speed Post News Network
New Delhi : The annual rate of inflation was 10.66% (Provisional) for the month of September, 2021 (over September, 2020) as compared to 1.32% in September, 2020. The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum an natural gas, chemicals and chemical products etc. as compared the corresponding month of the previous year.
The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), released Index numbers of wholesale price in India (Base Year: 2011-12) for the month of September, 2021 (Provisional) and for the month of July, 2021 (Final) on October 14, 2021, according to a PIB release.
The provisional figures of Wholesale Price Index (WPI) are released on 14th of every month (or next working day) with a time lag of two weeks of the reference month and compiled with data received from institutional sources and selected manufacturing units across the country. After 10 weeks, the index is finalised and final figures are released and frozen thereafter.
Month over Month Change in Major Groups of WPI:
- Primary Articles (weight 22.62%): The index for this major group declined by (-0.58%) to 154.9 (provisional) in September, 2021 from 155.8 (provisional) for the month of August, 2021. Prices of Crude Petroleum & Natural Gas (-4.06%), Minerals (-2.34%) Food Articles (-0.25%) and Non-food Articles (-0.31%) declined in September, 2021 as compared to August, 2021.
- Fuel & Power (weight 13.15%): The index for this major group declined by (-1.12%) to 114.7 (provisional) in September, 2021 from 116.0 (provisional) for the month of August, 2021. Prices of Mineral Oils (-1.75%) declined in September, 2021 as compared to August, 2021. Prices of coal and electricity remain unchanged.
- Manufactured Products (weight 64.23%): The index for this major group increased by (0.60%) to 133.8 (provisional) in September, 2021 from 133.0 (provisional) for the month of August, 2021. Out of the 22 NIC two-digit groups for Manufactured Products, 17 groups have witnessed increase in prices; 4 groups have witnessed decrease and for one group the prices remained unchanged in September, 2021 as compared to August, 2021. The increase in prices is mainly contributed by manufacture of basic metals; food products; chemicals and chemical products; machinery and equipment; motor vehicles, trailers, semi-trailers; and fabricated metals. Some of the groups that have witnessed decrease in prices are manufacture of electrical equipment; computer, electronic and optical products; printing and reproduction of recorded media, and beverages in September 2021 as compared to August 2021.
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 159.6 in August, 2021 to 159.8 in September, 2021. The rate of inflation based on WPI Food Index decreased from 3.43% in August, 2021 to 1.14% in September, 2021.