Index Numbers of Wholesale Prices in India (Base: 2004-05=100) Review for the month of January, 2011

The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of January, 2011 rose by 1.2 percent to 145.9 (Provisional) from 144.1 (Provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 8.23% (Provisional) for the month of January, 2011 (over January, 2010) as compared to 8.43% (Provisional) for the previous month and 8.53% during the corresponding month of the previous year. Build up inflation in the financial year so far was 7.44% compared to a build up of 9.42% in the corresponding period of the previous year.

Inflation for important commodities / commodity groups is indicated in Annex-1.

The movement of the index for the various commodity groups is summarized below:-

PRIMARY ARTICLES (Weight 20.12%)

The index for this major group rose by 2.4 percent to 193.4 (Provisional) from 188.9 (Provisional) for the previous month.  The groups and items for which the index showed variations during the month are as follows:-

The index for ‘Food Articles’ group rose by 2.0 percent to 190.7 (Provisional) from 186.9  (Provisional) for the previous month due to higher prices of fruits & vegetables and jowar (7% each),      arhar and coffee (4% each), condiments & spices (3%), moong, barley, masur and mutton (2% each) and bajra, rice, egg, maize, beef & buffalo meat and wheat (1% each).  However, the prices of      poultry chicken (7%), fish-inland (6%) and tea and milk (1% each) declined.

The index for ‘Non-Food Articles’ group rose by 3.7 percent to 177.9 (Provisional) from 171.6  (Provisional) for the previous month due to higher prices of raw cotton (12%), sunflower (10%), raw rubber (9%), castor seed (7%), gaur seed (6%), mesta (5%), raw silk (4%), safflower (3%) and fodder, cotton seed, soyabean, rape & mustard seed, copra, coir fibre and flowers (1% each).  However, the prices ofnigerseed (5%), groundnut seed (2%) and raw jute and gingelly seed (sesamum) (1% each) declined.

The index for ‘Minerals’ group rose by 2.8 percent to 262.6 (Provisional) from 255.5 (Provisional) for the previous month due to higher prices of gypsum (19%), zinc concentrate (7%), limestone,      chromite and iron ore (5% each), crude petroleum (3%) and steatite (2%).  However, the prices of      bauxite (20%), sillimanite (13%), magnesite (6%) and copper ore (5%) declined.

FUEL & POWER (Weight 14.91%)

 The index for this major group rose by 0.8 percent to 151.3 (Provisional) from 150.1 (Provisional) for the previous month due to higher prices of light diesel oil (7%), aviation turbine fuel, petrol and naphtha (5% each), furnace oil (4%) and bitumen (1%).  However, the prices of electricity (1%) declined.

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group rose by 0.8 percent to 129.9 (Provisional) from 128.9 (Provisional) for the previous month. The groups and items for which the index showed variations during the month are as follows:-

The index for ‘Food Products’ group rose by 0.9 percent to 144.0 (Provisional) from 142.7 (Provisional) for the previous month due to higher prices of palm oil, soyabean oil, copra oil and sugar (3% each), vegetables seeds, mixed spices, vanaspati, readymade / instant food powder, mustard & rapeseed oil and molasses (2% each) and rice bran oil, wheat flour (atta), groundnut oil and gingelly oil (1% each).  However, the prices of tea leaf (unblended) (4%), bagasse, tea leaf (blended) and canned fish (3% each), rice bran (2%) and rice bran extraction, ghee and butter (1% each) declined.

The index for ‘Beverages, Tobacco & Tobacco Products’ group rose by 1.1 percent to 146.0 (Provisional) from 144.4 (Provisional) for the previous month due to higher prices of dried tobacco (20%).  However, the prices of aerated water (all types) (3%) declined.

The index for ‘Textiles’ group rose by 1.3 percent to 120.4 (Provisional) from 118.9 (Provisional) for the previous month due to higher prices of viscose staple fibre (9%), cotton yarn (unbleached) (5%), cotton yarn  (bleached), gunny and hessian cloth and finished / processed  cotton  yarn (knitted) ( 4% each), cotton yarn (dyed) and polyester staple fibre (3% each), synthetic yarn (2%) and finished / processed cotton yarn (not knitted), jute sacking cloth, cotton cloth finished /processed, texturised and twisted yarn and cotton textiles dyed/printed (1% each).  However, the prices of woollen yarn (5%),     cotton towel cloth (4%) and coir mats & matting (2%) declined.

The index for ‘Wood & Wood Products’ group declined by 1.1 percent to 149.2 (Provisional) from 150.8 (Provisional) for the previous month due to lower prices of plywood board (4%).  However, the prices of wooden chair (2%) moved up.

The index for ‘Paper & Paper Products’ group declined by 0.2 percent to 125.4 (Provisional) from 125.6 (Provisional) for the previous month due to lower prices of paper cartons / boxes (2%) and kraft paper & bags (1%).  However, the prices of bristle paper board and printing and writing paper (1% each) moved up.

The index for ‘Leather & Leather Products’ group rose by 0.5 percent to 128.6 (Provisional) from 128.0 (Provisional) for the previous month due to higher prices of foot wear / safety boot (5%).  However, the prices of leather handbags / wallets and leather shoe upper (1% each) declined.

The index for ‘Rubber & Plastic Products’ group rose by 1.6 percent to 127.1 (Provisional) from 125.1 (Provisional) for the previous month due to higher prices of polyester film (12%), bus/truck tyre (11%), foot ball and other rubber tubes (4% each), hdpe woven sacks (2%) and plastic containers and hdpe bag (1% each).  However, the prices of rubber moulded goods (4%) and tractor tyre (1% each) declined.

The index for ‘Chemicals & Chemical Products’ group rose by 0.6 percent to 124.2 (Provisional) from 123.5 (Provisional) for the previous month due to higher prices of turpentine oil (9%), hair dye (8%), non-cyclic compound (6%), synthetic resin (3%), petrochemical building blocks (2%) and aromatic chemicals, caustic soda & soda ash, washing powder, ink, additives, olio resin & gelatin, washing soap and organic solvent (1% each).  However, the prices of thinner (5%), cypermethrin and carbon di-sulphide (3% each), chlorine (2%) and toilet soap, phenol or phenol extract, hair / body oils, sulphur & sulphur powder, fatty alcohol and shaving cream (1% each) declined.

The index for ‘Non-Metallic Mineral Products’ group declined by 0.6 percent to 143.5 (Provisional) from 144.4 (Provisional) for the previous month due to lower prices of grey cement (2%).  However, the prices of concrete poles & posts (9%), other cement product (2%) and polished granite and railway sleeper (1% each) moved up.

The index for ‘Basic Metals, Alloys & Metal Products’ group rose by 1.5 percent to 136.5 (Provisional) from 134.5 (Provisional) for the previous month due to higher prices of melting scrap (7%), sponge iron and pencil  ingots (5% each), cylinder liners (4%), pig iron, steel castings,     rounds, wire rods and angles (3% each), rebars, aluminium & alloys, billets, joist & beams and      GP/GC sheets (2% each) and welded pipe, CRC, aluminium coils/rolls and pressure cooker (1% each).  However, the prices of nuts/bolts/screw/ washers (4%) and gold & gold ornaments (1%) declined.

The index for ‘Machinery & Machine Tools’ group rose by 0.2 percent to 121.4 (Provisional) from 121.1 (Provisional) for the previous month due to higher prices of UPS / stabilizer (8%), relay / contacter (6%), drilling machines (5%), material handling equipments, capacitors and harvester (4% each), coupling, ball/roller bearing, battery dry cells,  lathes and meters / starter (non-electrical) (2% each) and air break switches/circuit breaker and electrical pumps (1% each).  However, the prices of gear cutting machines and electrical stamping lamination (3% each) and textile machinery and other non electrical machinery (1% each) declined.

The index for ‘Transport, Equipment & Parts’ group rose by 0.2 percent to 119.9 (Provisional) from 119.7 (Provisional) for the previous month due to higher prices of auto rickshaw / tempo / matador (3%) and crankshafts and slider (1% each).  However, the prices of piston & compressor (2%) and railway  axle & wheel (1%) declined.

 FINAL INDEX FOR THE MONTH OF NOVEMBER, 2010 (BASE YEAR: 2004-05=100)

For the month of November, 2010 the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 143.1  as compared to 142.4 (Provisional) and annual rate of inflation based on final index stood at 8.08 percent as compared to 7.48 percent (Provisional) reported on 14.12.2010.

Next date of press release: 14/03/2011 for the month of February, 2011

Wholesale Price Index and Rates of Inflation (Base Year: 2004-05=100)

DS/MRS

(Release ID :69793)