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New Delhi : The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade, on February 15, 2021, releasing index numbers of wholesale price in India (WPI) for the month of January, 2021 (Provisional) and for the month of November, 2020 (Final). The rate of inflation, based on monthly WPI, stood at 2.03% (provisional) for the month of January, 2021 (over January, 2020) as compared to 3.52% during the corresponding month of the previous year.
Primary Articles : The index for this major group declined by (-1.77%) to 143.9 (provisional) in January, 2021 from 146.5 (provisional) for the month of December, 2020. Prices of Crude Petroleum & Natural Gas (9.48%) and Minerals (2.67%) increased in January, 2021 as compared to December, 2020. Prices of Non-food Articles (-0.43%) and Food Articles (-2.99%) declined in January, 2021 as compared to December, 2020.
Fuel & Power : The index for this major group increased by (5.84%) to 99.7 (provisional) in January, 2021 from 94.2 (provisional) for the month of December, 2020. Prices of Electricity (11.49%) and Mineral Oils (5.55%) increased in January, 2021 as compared to December, 2020. Prices of coal remain unchanged.
Manufactured Products : The index for this major group increased by (1.54%) to 124.9 (provisional) in January, 2021 from 123.0 (provisional) for the month of December, 2020. Out of the 22 NIC two-digit groups for Manufactured products, 18 groups that have witnessed increase in prices are manufacture of furniture; other transport equipment; motor vehicles, trailers and semi-trailers; machinery and equipment; electrical equipment; computer, electronic and optical products; fabricated metal products except machinery and equipment; basic metals; rubber and plastics products; pharmaceuticals, medicinal chemical and botanical products; chemicals and chemical products; paper and paper products; wood and of products of wood and cork; wearing apparel; textiles; tobacco products; beverages; food products in January, 2021 as compared to December, 2020. Four groups that have witnessed decrease in prices are manufacture of other non-metallic mineral products; printing and reproduction of recorded media; leather and related products in January, 2021 as compared to December, 2020.
WPI Food Index : The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group have decreased from 154.4 in December, 2020 to 151.8 in January, 2021. The rate of inflation based on WPI Food Index decreased from 0.92% in December, 2020 to -0.26% in January, 2021, according to a PIB release.
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 then frozen thereafter.