WPI inflation down at four-month low of 1% in March on lower food prices


New Delhi: The annual charge of inflation primarily based on month-to-month wholesale value index (WPI) stood at 1 per cent in March over the identical month final yr, in response to authorities knowledge launched on Wednesday (April 15). The official WPI for all commodities (base 2011-12=100) for March 2020 declined by 0.9 per cent to 121.1 from 122.2 for the earlier month, stated a press release issued by the Ministry of Commerce and Industry.

“The annual rate of inflation based on monthly WPI stood at 1 per cent for March 2020 (over March 2019) as compared to 2.26 per cent for the previous month and 3.1 per cent during the corresponding month of the previous year,” it stated, including “build-up inflation rate in the financial year so far was 1 per cent compared to a build-up rate of 3.1 per cent in the corresponding period of the previous year.”

“The rate of inflation based on WPI Food Index consisting of food articles from primary articles group and food product from manufactured products group decreased from 7.31 per cent in February 2020 to 5.49 per cent in March 2020,” stated the assertion.

The motion of index for varied commodity group is summarized beneath:

1. The index for ‘Food Articles’ group declined by 2.1% to 151.6 (provisional) from 154.9 (provisional) for the earlier month resulting from lower value of egg (17%), poultry hen (9%), tea (7%), fish-marine, maize and fruits & greens (5% every), jowar (4%), bajra and wheat (3% every), gram, paddy, betel leaves and urad (2% every) and fish-inland, arhar, pork, masur and mutton (1% every). However, the worth of beef and buffalo meat (8%), moong and peas/chawali (4% every) and ragi and milk (1% every) moved up.

2. The index for ‘Non-Food Articles’ group declined by 4.2% to 126.1 (provisional) from 131.6 (provisional) for the earlier month resulting from lower value of floriculture (30%), safflower (kardi seed) (12%), soyabean and gaur seed (8% every), sunflower (7%), uncooked rubber (4%), linseed, coir fibre, rape & mustard seed and hides (uncooked) (2% every) and niger seed, copra (coconut), uncooked jute and castor seed (1% every). However, the worth of cotton seed (6%), groundnut seed (5%), skins (uncooked) (3%) and industrial wooden, uncooked silk, fodder and gingelly seed (sesamum) (1% every) moved up.

3. The index for ‘Minerals’ group rose by 4.2% to 153.8 (provisional) from 147.6 (provisional) for the earlier month resulting from increased value of manganese ore (15%), copper focus (7%) andphosphorite (6%). However, the worth of chromite (3%), limestone (2%) and bauxite, zinc focus and lead focus (1% every) declined.

4. The index for ‘Crude Petroleum & Natural Gas’ group declined by 6.6% to 81.3 (provisional) from 87.0 (provisional) for the earlier month resulting from lower value of crude petroleum (9%).

5. The index for ‘Mineral Oils’ group declined by 5.6% to 87.2 (provisional) from 92.4 (provisional) for the earlier month resulting from lower value of ATF (19%), naphtha (13%), HSD and kerosene (5% every), petrol and furnace oil (4% every) and LPG (3%). However, the worth of petroleum coke (7%) moved up.

6. The index for ‘Manufacture of Food Products’ remained unchanged to its earlier stage of 136.9. The objects which decreased the place rice bran extract (9%), rice bran oil (3%), cottonseed oil cake (2%) and gur, rapeseed oil, gram powder (Besan), honey, hen/duck, dressed- fesh/frozen, palm oil, maida, gola& comparable cattle feed, sunflower oil, vegetable starch, rice merchandise and cottonseed oil (1% every). However, the worth of molasses (6%), espresso powder with chicory (4%), spices (together with blended spices) (3%), groundnut oil, fish frozen/canned/processed and mustard oil cake (2% every) and processed tea, vanaspati, mustard oil, bagasse, sooji (rawa), sugar confectionery, rice non-basmati, cornflake and ice cream (1% every) moved up.

7. The index for ‘Manufacture of Tobacco Products’ group rose by 0.4% to 154.8 (provisional) from 154.2 (provisional) for the earlier month resulting from increased value of different tobacco merchandise (1%). However, the worth of cigarette (1%) declined.

8. The index for ‘Manufacture of Textiles’ group declined by 0.1% to 116.6 (provisional) from 116.7 (provisional) for the earlier month resulting from lower value of manufacture of knitted and crocheted materials (1%). However, the worth of viscose yarn (2%) moved up.

9. The index for ‘Manufacture of Wearing Apparel’ group rose by 0.1% to 138.0 (provisional) from 137.8 (provisional) for the earlier month resulting from increased value of manufacture of sporting attire (woven), besides fur attire (1%). However, the worth of manufacture of knitted and crocheted attire (1%) declined.

10. The index for ‘Manufacture of Leather and Related Products’ group rose by 0.1% to 117.9 (provisional) from 117.8 (provisional) for the earlier month resulting from increased value of harness, saddles & different associated objects (2%) and chrome tanned leather-based and waterproof footwear (1% every). However, the worth of journey items, purses, workplace baggage, and many others. and plastic/PVCchappals (1% every) declined.

11. The index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group rose by 0.2% to 133.0 (provisional) from 132.7 (provisional) for the earlier month resulting from increased value of picket field/crate (2%). However, the worth of woodcutting, processed/sized (1%) declined.

12. The index for ‘Manufacture of Paper and Paper Products’ group rose by 0.3% to 120.3 (provisional) from 120.0 (provisional) for the earlier month resulting from increased value of pulpboard (4%), corrugated sheet field (3%), tissue paper (2%) and cardboard and corrugated paper board (1%). However, the worth of a laminated plastic sheet (4%) and paper carton/field (2%) declined.

13. The index for ‘Printing and Reproduction of Recorded Media ‘ group rose by 1.2% to 153.3 (provisional) from 151.5 (provisional) for the earlier month resulting from increased value of printed books (2%) and hologram (3d) and journal/periodical (1% every).

14. The index for ‘Manufacture of Chemicals and Chemical Products’ group declined by 0.2% to 115.8 (provisional) from 116.0 (provisional) for the earlier month resulting from lower value of monoethyl glycol (10%), ammonia fuel (9%), sulphuric acid (8%), polystyrene, expandable (4%), natural solvent and catalysts (3% every), superphosphate/phosphatic fertilizer, others, alkylbenzene, different inorganic chemical compounds, polypropylene (PP) and camphor (2% every) and carbon black, ammonium phosphate, aniline (together with PNA, ONA, OCPNA), natural chemical compounds, shampoo, ethyl acetate, additive and adhesive excluding gum (1% every). 

However, the worth of nitric acid (9%), hydrogen peroxide (6%), oleoresin, agarbatti, menthol and security matches (match field) (2% every) and phthalic anhydride, bathroom cleaning soap, viscose staple fibre, ammonium nitrate, caustic soda (sodium hydroxide), gelatine, polyester fibre material, varnish (all sorts), fatty acid , poly vinyl chloride (PVC), liquid air & different gaseous merchandise, foundry chemical, explosive, di ammonium phosphate and blended fertilizer (1% every) moved up.

15. The index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 0.2% to 130.6 (provisional) from 130.3 (provisional) for the earlier month resulting from increased value of vials/ampoule, glass, empty or stuffed (5%), simvastatin (2%) and API & formulations of nutritional vitamins, antioxidants, anti-malarial medicine and antibiotics & preparations thereof (1% every). However, the worth of antidiabetic drug excluding insulin (i.e. tolbutam) (6%) and anti-retroviral medicine for HIV remedy (2%) declined.

16. The index for ‘Manufacture of Other Non-Metallic Mineral Products’ group rose by 0.2% to 116.5 (provisional) from 116.3 (provisional) for the earlier month resulting from increased value of stone, chip (6%), porcelain sanitary ware (3%), slag cement and cement superfine (2% every) and granite, toughened glass and fibre glass incl. sheet (1% every). However, the worth of electrical insulating materials (2%) and non ceramic tiles, white cement, marble slab, ceramic tiles (vitrified tiles), abnormal sheet glass, railway sleeper, lime and calcium carbonate and clinker (1% every) declined.

17. The index for ‘Manufacture of Basic Metals’ group declined by 0.4% to 106.6 (provisional) from 107.0 (provisional) for the earlier month resulting from lower value of chrome steel pencil ingots/billets/slabs (5%), MS pencil ingots and pig iron (2% every) and hot-rolled (HR) coils & sheets, together with slender strip and metal forgings – tough (1% every). However, the worth of rails (6%), ferrosilicon (4%), chrome steel coils, strips & sheets (3%), aluminum disk and circles (2%) and forged iron, castings, angles, channels, sections, metal (coated/not), brass steel/sheet/coils, chrome steel bars & rods, together with flats and ferrochrome (1% every) moved up.

18. The index for ‘Manufacture of Fabricated Metal Products, Except Machinery and Equipment’ group rose by 0.1% to 114.7 (provisional) from 114.6 (provisional) for the earlier month resulting from increased value of solid metal rings and cylinders (2% every) and metal drums and barrels and metal container (1% every). However, the worth of sanitary fittings of iron & metal (8%), jigs & fixture (5%), bracket (2%) and hand instruments and hose pipes inset or in any other case (1% every) declined.

19. The index for ‘Manufacture of Computer, Electronic, and Optical Products’ group declined by 0.2% to 109.3 (provisional) from 109.5 (provisional) for the earlier month resulting from lower value of digital printed circuit board  (PCB)/micro circuit (4%) and x-ray gear (2%). However, the worth of the electro-diagnostic equipment, used in medical, surgical, dental or veterinary sciences (4%) moved up.

20. The index for ‘Manufacture of Electrical Equipment’ group rose by 0.9% to 111.7 (provisional) from 110.7 (provisional) for the earlier month resulting from increased value of the transformer (6%), cooling tower (2%) and jelly-filled cables and electrical welding machine (1% every). However, the worth of fibre optic cables (3%), security fuse (2%) and electrical mixers/grinders/food processors, electrical filament kind lamps, fluorescent tubes, rubber insulated cables and AC motor (1% every) declined.

21. The index for ‘Manufacture of Machinery and Equipment’ group declined by 0.4% to 112.9 (provisional) from 113.4 (provisional) for the earlier month resulting from lower value of air or vacuum pump (4%), air fuel compressor together with compressor for fridge and curler and ball bearings (3% every), manufacture of bearings, gears, gearing and driving parts, pharmaceutical equipment, mining, quarrying & metallurgical equipment/elements and dumper (2% every) and hydraulic gear (1%). However, the worth of gasket package (7%) and excavator (1%) moved up.

22. The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group rose by 0.5% to 115.4 (provisional) from 114.8 (provisional) for the earlier month resulting from increased value of minibus/bus (4%) and headlamp and cylinder liners (1% every). However, the worth of brake pad/brake liner/brake block/brake rubber, others (3%), chassis of completely different car sorts (2%) and piston ring/piston and compressor (1%) declined.

23. The index for ‘Manufacture of Furniture’ group rose by 2.1% to 130.9 (provisional) from 128.2 (provisional) for the earlier month resulting from increased value of foam and rubber mattress (14%). However, the worth of hospital furnishings (7%) and picket furnishings (1%) declined.

24. The index for ‘Other Manufacturing’ group rose by 0.5% to 117.6 (provisional) from 117.0 (provisional) for the earlier month resulting from increased value of gold & gold ornaments (1%) and cricket bat (1%). However, the worth of silver (6%), cricket ball (2%) and sports activities items of rubber (incl. balls) (1%) declined.
 
25. The charge of inflation primarily based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 7.31% in February, 2020 to five.49% in March, 2020.

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