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Wholesale Price Index for July 2019 decline by 0.2% to 121.2 provisional

The official Wholesale Price Index 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.

(Data hereunder is sourced from the press release dated 14th August, 2019 released by Office of the Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, Govt. of India.)

INFLATION

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.

Inflation for important commodities / commodity groups is indicated in Annex-1 and Annex-II. The movement of the index for the various commodity group is summarized below:-

PRIMARY ARTICLES (Weight 22.62%)

The index for this major group rose by 0.5% to 142.1 (provisional) from 141.4 (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 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 'Minerals' group declined by 2.9% to 153.4 (provisional) from 158 (provisional) for the previous month due to lower price of copper concentrate (6%), iron ore and chromite (2% each) and lead concentrate and manganese ore (1% each). However, the price of bauxite (3%) and limestone (1%) moved up.

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 (Weight 13.15%)

The index for this major group declined by 1.5% to 100.6 (provisional) from 102.1 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

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 (Weight 64.23%)

The index for this major group declined by 0.3% to 118.1 (provisional) from 118.4 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

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 index for 'Manufacture of Beverages' group declined by 0.1% to 123.2 (provisional) from 123.3 (provisional) for the previous month due to lower price of aerated drinks/soft drinks (incl. soft drink concentrates) (2%) and spirits (1%). However, the price of beer and country liquor (2% each) and rectified spirit (1%) moved up.

The index for 'Manufacture of Tobacco Products' group declined by 1% to 153.6 (provisional) from 155.1 (provisional) for the previous month due to lower price of cigarette (2%) and other tobacco products (1%).

The index for 'Manufacture of Wearing Apparel' group declined by 1.2% to 137.1 (provisional) from 138.7 (provisional) for the previous month due to lower price of manufacture of wearing apparel (woven), except fur apparel (1%) and manufacture of knitted and crocheted apparel (1%).

The index for 'Manufacture of Leather and Related Products' group declined by 0.8% to 118.3 (provisional) from 119.2 (provisional) for the previous month due to lower price of leather shoe and harness, saddles & other related items (2% each) and belt & other articles of leather (1%). However, the price of travel goods, handbags, office bags, etc. (1%) moved up.

The index for 'Manufacture of Wood and of Products of Wood And Cork ' group declined by 0.3% to 134.2 (provisional) from 134.6 (provisional) for the previous month due to lower price of wooden splint (4%), lamination wooden sheets/veneer sheets (2%) and wood cutting, processed/sized (1%). However, the price of plywood block boards (1%) moved up.

The index for 'Manufacture of Paper and Paper Products' group declined by 0.3% to 122.3 (provisional) from 122.7 (provisional) for the previous month due to lower price of bristle paper board (6%), base paper, laminated plastic sheet and newsprint (2% each) and paper for printing & writing, paper carton/box and tissue paper (1% each). However, the price of corrugated sheet box, press board, hard board and laminated paper (1% each) moved up.

The index for 'Printing and Reproduction of Recorded Media ' group rose by 1% to 150.1 (provisional) from 148.6 (provisional) for the previous month due to higher price of sticker plastic and printed books (2% each) and printed form & schedule and journal/periodical (1% each). However, the price of hologram (3D) (1%) declined.

The index for 'Manufacture of Chemicals and Chemical Products' group declined by 0.4% to 118.8 (provisional) from 119.3 (provisional) for the previous month due to lower price of menthol (7%), caustic soda (sodium hydroxide) (6%), tooth paste/tooth powder and carbon black (5% each), nitric acid (4%), acetic acid and its derivatives, plasticizer, amine, organic solvent, sulphuric acid, ammonia liquid, phthalic anhydride and ammonia gas (3% each), camphor, poly propylene (PP), alkyl benzene, ethylene oxide and di ammonium phosphate (2% each) and shampoo, polyester chips or polyethylene terepthalate (pet) chips, ethyl acetate, ammonium nitrate, nitrogenous fertilizer, others, polyethylene, toilet soap, organic surface active agent, superphospate/phosphatic fertilizer, others, hydrogen peroxide, dye stuff/dyes incl. dye intermediates and pigments/colours, aromatic chemicals, alcohols, viscose staple fibre, gelatine, organic chemicals, other inorganic chemicals, foundry chemical, explosive and polyester film(metalized) (1% each). However, the price of catalysts, mosquito coil, acrylic fibre and sodium silicate (2% each) and agro chemical formulation, liquid air & other gaseous products, rubber chemicals, insecticide and pesticide, poly vinyl chloride (PVC), varnish (all types), urea and ammonium sulphate (1% each) moved up.

The index for 'Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products' group rose by 0.6% to 126.2 (provisional) from 125.5 (provisional) for the previous month due to higher price of plastic capsules (5%), sulpha drugs (3%), antidiabetic drug excluding insulin (i.e. tolbutam) (2%) and ayurvedic medicaments, anti inflammatory preparation, simvastatin and cotton wool (medicinal) (1% each). However, the price of vials/ampoule, glass, empty or filled (2%) and anti-retroviral drugs for HIV treatment and antipyretic, analgesic, anti-inflammatory formulations (1% each) declined.

The index for 'Manufacture of Rubber and Plastics Products' group rose by 0.1% to 109.2 (provisional) from 109.1 (provisional) for the previous month due to higher price of tooth brush (3%), plastic furniture, plastic button and PVC fittings & other accessories (2% each) and solid rubber tyres/wheels, rubber moulded goods, rubber tread, condoms, cycle/cycle rickshaw tyre and plastic tape (1% each). However, the price of rubberized dipped fabric (5%), polyester film (non-metalized) (3%), rubber crumb (2%) and plastic tube (flexible/non-flexible), processed rubber and polypropylene film (1% each) declined.

The index for 'Manufacture of Other Non-Metallic Mineral Products' group declined by 0.6% to 117.5 (provisional) from 118.2 (provisional) for the previous month due to lower price of graphite rod (5%), slag cement and cement superfine (2% each) and ordinary sheet glass, pozzolana cement, ordinary portland cement, asbestos corrugated sheet, glass bottle, plain bricks, clinker, non ceramic tiles and white cement (1% each). However, the price of cement blocks (concrete), granite and porcelain sanitary ware (2% each) and ceramic tiles (vitrified tiles), fibre glass incl. sheet and marble slab (1% each) moved up.

The index for 'Manufacture of Basic Metals' group declined by 1.3% to 107.3 (provisional) from 108.7 (provisional) for the previous month due to lower price of stainless steel pencil ingots/billets/slabs (9%), sponge iron/direct reduced iron (DRI), ferrochrome and aluminium disk and circles (5% each), MS pencil ingots and angles, channels, sections, steel (coated/not) (4% each), ferromanganese and alloy steel wire rods (3% each), cold rolled (CR) coils & sheets, including narrow strip, MS wire rods, MS bright bars, hot rolled (HR) coils & sheets, including narrow strip, copper metal/copper rings, ferrosilicon, silicomanganese and mild steel (MS) blooms (2% each) and rails, pig iron, GP/GC sheet, brass metal/sheet/coils, alloy steel castings, aluminium castings, stainless steel bars & rods, including flats and stainless steel tubes (1% each). However, the price of MS castings (5%), steel forgings - rough (2%) and steel cables and cast iron, castings (1% each) moved up.

The index for 'Manufacture of Fabricated Metal Products, Except Machinery And Equipment' group declined by 1.4% to 114.8 (provisional) from 116.4 (provisional) for the previous month due to lower price of cylinders (7%), electrical stamping- laminated or otherwise and metal cutting tools & accessories (3% each), copper bolts, screws, nuts and boilers (2% each) and aluminium utensils, steel structures, steel drums and barrels, steel container and jigs & fixture (1% each). However, the price of hand tools (2%) and iron/steel cap, sanitary fittings of iron & steel and steel pipes, tubes & poles (1% each) moved up.

The index for 'Manufacture of Electrical Equipment' group declined by 0.5% to 111.3 (provisional) from 111.9 (provisional) for the previous month due to lower price of electric switch (5%), electric switch gear control/starter, connector/plug/socket/holder-electric, transformer, air coolers and electrical resistors (except heating resistors) (2% each) and rotor/magneto rotor assembly, jelly filled cables, electric & other meters, copper wire and safety fuse (1% each). However, the price of electric accumulators (6%), PVC insulated cable and ACSR conductors (2% each) and incandescent lamps, fan, fibre optic cables and insulator (1% each) moved up.

The index for 'Manufacture of Machinery and Equipment' group rose by 0.4% to 113.5 (provisional) from 113.1 (provisional) for the previous month due to higher price of air or vacuum pump (3%), conveyors - non-roller type, threshers, pump sets without motor, precision machinery equipment/form tools and air filters (2% each) and moulding machine, pharmaceutical machinery, sewing machines, roller and ball bearings, motor starter, manufacture of bearings, gears, gearing and driving elements and agricultural tractors (1% each). However, the price of deep freezers (15%), air gas compressor including compressor for refrigerator, cranes, road roller and hydraulic pump (2% each) and soil preparation & cultivation machinery (other than tractors), harvesters, lathes and hydraulic equipment (1% each) declined.

The index for 'Manufacture of Motor Vehicles, Trailers and Semi-Trailers' group declined by 0.1% to 114 (provisional) from 114.1 (provisional) for the previous month due to lower price of seat for motor vehicles (14%), cylinder liners (5%), piston ring/piston and compressor (2%) and brake pad/brake liner/brake block/brake rubber, others, gear box and parts, crankshaft and release valve (1% each). However, the price of chassis of different vehicle types (4%), body (for commercial motor vehicles) (3%), engine (2%) and axles of motor vehicles and filter element (1% each) moved up.

The index for 'Manufacture of Other Transport Equipment' group declined by 0.4% to 116.4 (provisional) from 116.9 (provisional) for the previous month due to lower price of diesel/electric locomotive and motor cycles (1% each). However, the price of wagons (1%) moved up.

The index for 'Manufacture of Furniture' group rose by 0.2% to 128.7 (provisional) from 128.4 (provisional) for the previous month due to higher price of steel shutter gate (1%). However, the price of hospital furniture (1%) declined.

The index for 'Other Manufacturing' group rose by 2% to 108.3 (provisional) from 106.2 (provisional) for the previous month due to higher price of silver (3%), gold & gold ornaments and cricket ball (2% each) and football (1%). However, the price of plastic moulded-others toys (2%) and stringed musical instruments (incl. santoor, guitars, etc.) (1%) declined.

WPI FOOD INDEX (Weight 24.38%)

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.

FINAL INDEX FOR THE MONTH OF MAY, 2019 (BASE YEAR:2011-12=100)

For the month of May, 2019, the final Wholesale Price Index for 'All Commodities' (Base: 2011-12=100) stood at 121.6 as compared to 121.2 (provisional) and annual rate of inflation based on final index stood at 2.79% as compared to 2.45% (provisional) respectively as reported on 14.06.2019.


Annexure-I
Wholesale Price Index and Rates of Inflation (Base Year: 2011-12=100)
Month of July, 2019

Wholesale Price Index and Rates of Inflation (Base Year: 2011-12=100)  Month of July, 2019


Annexure-II
Trend of Rate of Inflation for some important items during last six months

Trend of Rate of Inflation for some important items during last six months Feb to Jul 2019


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