Speed Post News Network
New Delhi : The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade, released index numbers of wholesale price in India (WPI) for the month of February, 2021 (Provisional) and for the month of December, 2020 (Final)on March 15, 2021. The rate of inflation, based on monthly WPI, stood at (4.17%) (provisional) for the month of February, 2021 (over February, 2020) as compared to 2.26% during the corresponding month of the previous year.
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 finalized and final figures are released and then frozen thereafter.
Primary Articles : The index for this major group increased by (1.04%) to 145.4 (provisional) in February, 2021 from 143.9 (provisional) for the month of January, 2021. Prices of Minerals (9.40%), Crude Petroleum & Natural Gas (6.50%) and Food Articles (0.51%) increased in February, 2021, as compared to January, 2021. Prices of Non-food Articles (-0.51%) declined in February, 2021 as compared to January, 2021.
Fuel & Power : The index for this major group increased by (4.51%) to 104.2 (provisional) in February, 2021 from 99.7 (provisional) for the month of January, 2021. Prices of Mineral Oils (8.88%) increased in February, 2021 as compared to January, 2021. Prices of Electricity (-0.43%) declined in February, 2021 as compared to January, 2021. Prices of coal remain unchanged, according to a PIB release.
Manufactured Products : The index for this major group increased by (0.64%) to 125.7 (provisional) in February, 2021 from 124.9 (provisional) for the month of January, 2021. Out of the 22 NIC two-digit groups for Manufactured products, 17 groups that have witnessed increase in prices are manufacture of other furniture; other transport equipment; motor vehicles, trailers and semi-trailers; machinery and equipment; computer, electronic and optical products; fabricated metal products, except machinery and equipment; other non-metallic mineral products; rubber and plastics products; chemicals and chemical products; printing and reproduction of recorded media; paper and paper products; wood and of products of wood and cork; textiles; tobacco products; beverages; food products in February, 2021 as compared to January, 2021.
Whereas 5 groups that have witnessed decrease in prices are manufacture of electrical equipment; basic metals; pharmaceuticals, medicinal chemical and botanical products; leather and related products; wearing apparel in February, 2021 as compared to January, 2021