Official WPI for ‘All Commodities’ for January 2019 declines by 0.7%

Speed Post News Network

New Delhi : The official Wholesale Price Index (WPI) 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. 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.

The 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.

Primary Article (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 ‘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 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%).

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 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).

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, according to a PIB release.