Speed Post News Network
New Delhi : The official Wholesale Price Index (WPI) for ‘All Commodities’ (Base : 2011-12=100) for the month of July, 2019, declined by 0.2% to 121.2 (provisional) from 121.5 (provisional) for the previous month. The annual rate of inflation, based on monthly WPI, stood at 1.08% (provisional) for the month of July, 2019 (over July ,2018) as compared to 2.02% (provisional) for the previous month and 5.27% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.08% compared to a build up rate of 3.1% in the corresponding period of the previous year.
Primary Articles : The index for this major group rose by 0.5% to 142.1 (provisional) from 141.4 (provisional) for the previous month.The index for ‘Food Articles’ group rose by 1.3% to 153.7 (provisional) from 151.7 (provisional) for the previous month due to higher price of fruits & vegetables (5%), egg, maize and jowar (4% each), pork (3%), beef and buffalo meat, bajra, wheat and condiments & spices (2% each) and barley, moong, paddy, peas/chawali, ragi and arhar (1% each). However, the price of fish-marine (7%), tea (6%), betel leaves (5%), poultry chicken (3%) and fish-inland, urad (1% each) declined.
The index for ‘ Non-Food Articles’ group rose by 0.1% to 128.8 (provisional) from 128.7 (provisional) for the previous month due to higher price of groundnut seed (5%), gingelly seed (sesamum) and cotton seed (3% each), hides (raw), skins (raw), floriculture (2% each) and fodder, raw rubber and castor seed (1% each). However, the price of soyabean, raw jute, mesta and sunflower (3% each), niger seed (2%) and raw cotton, gaur seed, safflower (kardi seed) and linseed (1% each) declined.
The index for ‘Crude Petroleum & Natural Gas’ group declined by 6.1% to 86.9 (provisional) from 92.5 (provisional) for the previous month due to lower price of crude petroleum (8%) and natural gas (1%).
Fuel & Power : The index for this major group declined by 1.5% to 100.6 (provisional) from 102.1 (provisional) for the previous month. The index for ‘Mineral Oils’ group declined by 3.1% to 91.4 (provisional) from 94.3 (provisional) for the previous month due to lower price of LPG (15%), ATF (7%), naphtha (5%), petroleum coke (4%), HSD, kerosene and furnace oil (2% each) and petrol (1%). However, the price of bitumen (2%) moved up.
The index for ‘Electricity’ group rose by 0.9% to 108.3 (provisional) from 107.3 (provisional) for the previous month due to higher price of electricity (1%).
Manufactured Products : The index for this major group declined by 0.3% to 118.1 (provisional) from 118.4 (provisional) for the previous month.
The index for ‘Manufacture of Food Products’ group rose by 0.4% to 130.9 (provisional) from 130.4 (provisional) for the previous month due to higher price of molasses (271%), manufacture of processed ready to eat food (4%), maida (3%), gur, rice bran oil, sooji (rawa ) and powder milk (2% each) and manufacture of prepared animal feeds, instant coffee, cotton seed oil, spices (including mixed spices), manufacture of bakery products, ghee, wheat flour (atta), honey, manufacture of health supplements, chicken/duck, dressed – fresh/frozen, mustard oil, manufacture of starches and starch products, sunflower oil and salt (1% each).
However, the price of coffee powder with chicory, ice cream, copra oil and processing and preserving of fruit and vegetables (2% each) and palm oil, other meats, preserved/processed, sugar, manufacture of macaroni, noodles, couscous and similar farinaceous products, wheat bran and soyabean oil (1% each) declined.
The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Products’ from Manufactured Products group decreased from 5.04% in June, 2019 to 4.54% in July, 2019, according to a PIB release.