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New Delhi : The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade, on October 14, 2020, released the index numbers of wholesale price in India (WPI) for the month of September, 2020 (Provisional), and for the month of July, 2020 (Final). 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. After 10 weeks, the index is finalised and final figures are released and then frozen thereafter.
INFLATION : The annual rate of inflation, based on monthly WPI, stood at 1.32% (provisional) for the month of September, 2020 (over September, 2019) as compared to 0.33% during the corresponding month of the previous year, according to a PIB release.
PRIMARY ARTICLES (Weight 22.62%) : The index for this major group increased by 2.73% to 150.3 (provisional) in September, 2020 from 146.3 (provisional) for the month of August, 2020. Prices of Food Articles (3.70%), Crude Petroleum & Natural Gas (1.41%) and Minerals (0.12%) increased as compared to August, 2020. Prices of Non-food Articles (-0.94%) declined as compared to August, 2020.
FUEL & POWER (Weight 13.15%) : The index for this major group declined by (-0.44%) to 91.0 (provisional) in September, 2020 from 91.4 (provisional) for the month of August, 2020. Prices of Mineral Oils (-0.64%) declined as compared to August, 2020. Prices of coal and electricity remain unchanged.
MANUFACTURED PRODUCTS (Weight 64.23%) : The index for this major group increased by (0.42%) to 119.8 (provisional) in September, 2020 from 119.3 (provisional) for the month of August, 2020. Out of the 22 NIC two-digit groups for Manufactured products, 15 groups that have witnessed increase in prices are manufacture of food products; tobacco products; textiles; wearing apparel; paper and paper products; printing and reproduction of recorded media; chemicals and chemical products; rubber and plastics products; basic metals; fabricated metal products, except machinery and equipment; machinery and equipment; motor vehicles, trailers and semi- trailers; other transport equipment; furniture; other manufacturing in September, 2020 as compared to August, 2020.
Six groups that have witnessed decrease in prices are manufacture of beverages; leather and related products; wood and of products of wood and cork; pharmaceuticals, medicinal chemical and botanical products; other non-metallic mineral products; and electrical equipment in September, 2020 as compared to August, 2020. The Manufacture of computer, electronic and optical products remain unchanged in September, 2020 as compared to August, 2020.
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 153.3 in August, 2020 to 157.6 in September, 2020. The annual rate of inflation based on WPI Food Index increased from 4.07% in August, 2020 to 6.92% in September, 2020.