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ANALYSIS

All commodities’ wholesale price index for March 2018 up by 2% to 116
Tuesday, 17 April, 2018, 08 : 00 AM [IST]
Our Bureau, New Delhi
The official wholesale price index (WPI) for all commodities (base: 2011-12=100) for the month of March 2018 rose by 0.2 per cent to 116.0 (provisional) from 115.8 (provisional) for the previous month.

Inflation
The annual rate of inflation, based on monthly WPI, stood at 2.47 per cent (provisional) for the month of March 2018 (over March 2017) as compared to 2.48 per cent (provisional) for the previous month and 5.11 per cent during the corresponding month of the previous year. Build-up inflation rate in the financial year so far was 2.47 per cent compared to a build-up rate of 5.11 per cent in the corresponding period of the previous year.

The inflation for important commodities/commodity groups is indicated in Annex-I and Annex-II.

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

Primary articles (Weight 22.62 per cent)
The index for this major group declined by 0.5 per cent to 127.4 (provisional) from 128 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:

The index for the food articles group declined by 0.4 per cent to 137.2 (provisional) from 137.8 (provisional) for the previous month due to the lower prices of eggs (five per cent), gram, tea, coffee, poultry chicken and condiments and spices (three per cent each), rajma (two per cent) and fish-inland, masur, bajra, fruits and vegetables and beef and buffalo meat (one per cent each).  However, the price of ragi (three per cent), jowar and fish-marine (two per cent each) and peas/chawali, moong, betel leaves, wheat, paddy and pork (one per cent each) moved up.

The index for the non-food articles group declined by 0.3 per cent to 120.2 (provisional) from 120.6 (provisional) for the previous month due to lower price of guar seed (seven per cent), niger seed (six per cent), floriculture (five per cent), raw cotton, cotton seed, skins (raw) and gingelly seed (three per cent each), copra (coconut) (two per cent) and linseed, castor seed, raw jute, groundnut seed and rape and mustard seed (one per cent each).

However, the price of raw silk (seven per cent), mesta and hides (raw) (five per cent each), sunflower (four per cent), soyabean (three per cent), fodder (two per cent) and raw wool, coir fibre and raw rubber (one per cent each) moved up.

Manufactured products (Weight 64.23 per cent)
The index for this major group rose by 0.4 per cent to 115.7 (provisional) from 115.2 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:

The index for the manufacture of food products group rose by one per cent to 127.7 (provisional) from 126.4 (provisional) for the previous month due to higher price of processed tea (nine per cent), vanaspati, palm oil, buffalo meat, fresh/frozen and rice bran oil (five per cent each), manufacture of macaroni, noodles, couscous and similar farinaceous products, honey and cotton seed oil (three per cent each), rice products (two per cent), manufacture of health supplements, spices (including mixed spices) and basmati rice (two per cent each) and coffee powder with chicory, soyabean oil, wheat bran, sunflower oil, ghee, manufacture of processed ready-to-eat food, manufacture of prepared animal feeds, ice cream and chicken/duck, dressed - fresh/frozen (one per cent each).

However, the price of molasses (16 per cent), salt (four per cent), condensed milk and processing and preserving of fish, crustaceans and molluscs and products thereof (three per cent each), gram powder (besan) and other meats, preserved/processed (two per cent each) and groundnut oil, mustard oil, rice, non-basmati, rapeseed oil, powder milk, sooji (rawa), butter, sugar and copra oil (one per cent each) declined.

The index for the manufacture of beverages group rose by 0.4 per cent to 119.8 (provisional) from 119.3 (provisional) for the previous month due to the higher price of beer (two per cent) and wine one per cent). However, the price of rectified spirit (two per cent) and country liquor (one per cent) declined.

WPI Food Index (Weight 24.38 per cent)
The rate of inflation based on the WPI Food Index consisting of food articles from the primary articles group and food products from the manufactured products group decreased from 0.07 per cent in February 2018 to (-) 0.07 per cent in March 2018.

Final index for the month of January 2018 (Base year: 2011-12=100)

For the month of January 2018, the final WPI for all commodities (base: 2011-12=100) stood at 116 as compared to 115.8 (provisional) and annual rate of inflation based on final index stood at 3.02 per cent as compared to 2.84 per cent (provisional), respectively, as reported on February 14, 2018.

Annexure-I
WPI and rates of inflation (Base year: 2011-12=100)
 Month of March 2018

 
Commodities/ major groups /groups/ sub-groups Weight WPI March 2018 Latest month-over-month Build-up from March Year-on-year
2016-17 2017-18 2016-17 2017-18 2016-17 2017-18
All commodities 100 116 0.18 0.17 5.11 2.47 5.11 2.47
Primary articles 22.62 127.4 0.08 -0.47 3.33 0.24 3.33 0.24
Food articles 15.26 137.2 0.73 -0.44 3.15 -0.29 3.15 -0.29
Cereals 2.82 144.4 -1.22 0.7 7.64 -0.55 7.64 -0.55
Paddy 1.43 152.2 0.89 0.66 9.25 3.05 9.25 3.05
Wheat 1.03 141.2 -4.29 0.86 6.56 -1.19 6.56 -1.19
Pulses 0.64 122.3 -6.33 -1.45 -7.78 -20.58 -7.78 -20.58
Vegetables 1.87 115.2 9.53 -7.54 -0.5 -2.7 -0.5 -2.7
Potato 0.28 130.5 -5.89 20.72 -31.61 43.25 -31.61 43.25
Onion 0.16 157.3 -3.41 -37.26 -16.97 42.22 -16.97 42.22
Fruits 1.6 152.2 2.96 5.99 6.01 9.26 6.01 9.26
Milk 4.44 140.7 0.81 0.07 3.64 3.08 3.64 3.08
Eggs, meat and fish 2.4 133.1 -0.59 -1.19 -0.67 -0.82 -0.67 -0.82
Manufactured products 64.23 115.7 0.45 0.43 3.22 3.03 3.22 3.03
Manufacture of food products 9.12 127.7 -0.55 1.03 8.71 0.31 8.71 0.31
Manufacture of vegetable and animal oils and fats 2.64 116.8 -1.45 3.45 8.62 7.75 8.62 7.75
Sugar 1.06 117 0.23 -0.59 21.81 -10.48 21.81 -10.48

Annexure-II


Trend of rate of inflation for some important items during last six months
Commodities/major groups/groups/sub-groups Weight (%) Rate of Inflation for the last six months 
Mar-18 Feb-18 Jan-18 Dec-17 Nov-17 Oct-17
All commodities 100 2.47 2.48 3.02 3.58 4.02 3.68
Primary articles 22.62 0.24 0.79 2.53 3.86 5.59 3.72
Food articles 15.26 -0.29 0.88 3.15 4.72 6.41 4.3
Cereals 2.82 -0.55 -2.45 -1.98 -3 -2.13 -0.07
Paddy 1.43 3.05 3.28 4.59 3.19 2.9 3.1
Wheat 1.03 -1.19 -6.23 -6.94 -8.47 -5.75 -1.99
Pulses 0.64 -20.58 -24.51 -30.43 -35.19 -35.52 -31.1
Vegetables 1.87 -2.7 15.26 40.77 56.38 59.87 36.67
Potato 0.28 43.25 11.67 8.68 -8.4 -40.73 -44.29
Onion 0.16 42.22 118.95 193.89 197.05 178.19 127.8
Fruits 1.6 9.26 6.13 9.87 11.99 6.48 3.96
Milk 4.44 3.08 3.84 3.93 3.85 4.08 4.01
Eggs, meat and fish 2.4 -0.82 -0.22 0.37 1.67 4.73 5.76
MANUFACTURED PRODUCTS 64.23 3.03 3.04 2.96 2.79 2.7 2.62
Manufacture of food products 9.12 0.31 -1.25 -0.94 -0.23 0.63 1.18
Manufacture of vegetable and animal oils and fats 2.64 7.75 2.64 1.35 1.27 2.31 0.84
Sugar 1.06 -10.48 -9.74 -5.78 0.73 4.17 5.08



 
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