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ANALYSIS

Jan ’18 Wholesale Price Index up by 0.1% to 115.8 from Dec ’17’s 115.7
Saturday, 17 February, 2018, 08 : 00 AM [IST]
Our Bureau, New Delhi
The Wholesale Price Index (WPI) for all commodities (taking 2011-12=100 as the base) for the month of January 2018 rose by 0.1 per cent to 115.8 (provisional) from 115.7 (provisional) for the previous month (i e December 2017).

Inflation
The annual rate of inflation, based on monthly WPI, stood at 2.84 per cent (provisional) for the month of January 2018 (over January 2017) vis-a-vis 3.58 per cent (provisional) for the previous month and 4.26 per cent during the corresponding month of the previous year. The build-up inflation rate in the financial year so far was 2.30 per cent compared to a build-up rate of 4.55 per cent in the corresponding period of the previous year.

Inflation for important commodities/commodity groups is indicated in Annexure-I and Annexure-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 1.5 per cent to 129.7 (provisional) from 131.7 (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 2.4 per cent to 140.6 (provisional) from 144.1 (provisional) for the previous month due to the lower prices of gram and fruits and vegetables (10 per cent each), urad and ragi (five per cent each), masur, rajma and jowar (three per cent each), bajra (two per cent) and maize, barley, poultry chicken and peas or chawali (one per cent each).

However, the price of betel leaves (four per cent), fish-inland, egg, condiments and spices and arhar (two per cent each) and moong, paddy, fish-marine, sugarcane and wheat (one per cent each) moved up.

Manufactured products (Weight 64.23 per cent)
The index for this major group rose by 0.6 per cent to 114.7 (provisional) from 114 (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 declined by 0.5 per cent to 126.8 (provisional) from 127.4 (provisional) for the previous month due to lower price of molasses (26 per cent), gram powder (besan) (seven per cent), sugar and other meats, preserved/processed (three per cent each), processing and preserving of fish, crustaceans and molluscs and products thereof, manufacture of macaroni, noodles, couscous and similar farinaceous products, gur, chicken/duck, dressed-fresh/frozen, castor oil, bagasse, buffalo meat, fresh/frozen and groundnut oil (two per cent each) and rice bran oil, condensed milk, processed tea, ghee, powder milk, spices (including mixed spices), processing and preserving of fruit and vegetables, manufacture of processed ready-to-eat food, coffee powder with chicory, manufacture of prepared animal feeds and honey (one per cent each).

However, the price of soybean oil (five per cent), wheat bran (four per cent), rice products (three per cent), vanaspati, sunflower oil and salt (two per cent each) and cotton seed oil, manufacture of starches and starch products, manufacture of bakery products, copra oil, palm oil and sooji (rawa) (one per cent each) moved up.

The index for manufacture of beverages group rose by 0.2 per cent to 119.9 (provisional) from 119.7 (provisional) for the previous month due to the higher prices of wine (two per cent) and aerated drinks or soft drinks (including soft drink concentrates) (one per cent). However, the price of rectified spirit (two per cent) and bottled mineral water (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 2.91 per cent in December 2017 to 1.65 per cent in January 2018.

Final index for the month of November 2017 (Base year: 2011-12=100)
For the month of November 2017, the final WPI for all commodities (taking 2011-12=100 as the base) stood at 116.4 as compared to 116.3 (provisional) and the annual rate of inflation based on final index stood at 4.02 per cent as compared to 3.93 per cent (provisional), respectively.

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

Month of January 2018


Commodities/major groups/groups/sub-groups

Weight

WPI January 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

100.00

115.8

0.81

0.09

4.55

2.30

4.26

2.84

Primary articles

22.62

129.7

-0.08

-1.52

3.01

2.05

1.93

2.37

Food articles

15.26

140.6

-0.80

-2.43

2.32

2.18

0.29

3.00

Cereals

2.82

143.4

-0.27

0.77

8.45

-1.24

8.45

-1.98

Paddy

1.43

150.4

-0.28

1.08

6.36

1.83

5.89

4.59

Wheat

1.03

140.8

-0.66

1.00

12.83

-1.47

12.83

-6.94

Pulses

0.64

127.1

-10.96

-5.29

9.40

-17.47

4.22

-30.43

Vegetables

1.87

149.5

-6.60

-15.96

-10.76

26.27

-23.49

40.77

Potato

0.28

111.4

-20.23

-5.35

-23.05

22.28

-16.67

8.68

Onion

0.16

346.2

-3.60

-4.63

-11.56

213.02

-36.08

193.89

Fruits

1.60

141.8

1.79

-1.39

-0.53

1.79

1.87

8.49

Milk

4.44

140.3

0.00

0.07

2.51

2.78

2.97

3.93

Eggs, meat and fish

2.40

135.2

2.05

0.75

-0.30

0.75

-0.81

0.37

Manufactured products

64.23

114.7

0.45

0.61

2.57

2.14

3.33

2.78

Manufacture of food products

9.12

126.8

0.23

-0.47

9.31

-0.39

10.73

-0.94

Manufacture of vegetable and animal oils and fats

2.64

112.4

0.82

1.08

11.22

3.69

14.08

1.26

Sugar

1.06

120.8

3.89

-2.89

19.38

-7.57

25.47

-5.70


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

January 2018

December 2017

November 2017

October 2017

September 2017

August 2017

All commodities

100.00

2.84

3.58

4.02

3.68

3.14

3.24


Primary articles

22.62

2.37

3.86

5.59

3.72

0.69

2.97


Food articles

15.26

3.00

4.72

6.41

4.30

2.04

5.82


Cereals

2.82

-1.98

-3.00

-2.13

-0.07

-0.07

0.21


Paddy

1.43

4.59

3.19

2.90

3.10

2.83

2.70


Wheat

1.03

-6.94

-8.47

-5.75

-1.99

-1.71

-1.44


Pulses

0.64

-30.43

-34.60

-35.52

-31.10

-24.26

-28.79


Vegetables

1.87

40.77

56.46

59.87

36.67

15.41

44.84


Potato

0.28

8.68

-8.40

-40.73

-44.29

-46.78

-43.95


Onion

0.16

193.89

197.05

178.19

127.80

79.78

88.46


Fruits

1.60

8.49

11.99

6.48

3.96

2.93

7.35


Milk

4.44

3.93

3.85

4.08

4.01

4.31

3.94


Eggs, meat and fish

2.40

0.37

1.67

4.73

5.76

5.47

4.01


Manufactured products

64.23

2.78

2.61

2.70

2.62

2.99

2.36


Manufacture of food products

9.12

-0.94

-0.23

0.63

1.18

1.99

1.92


Manufacture of vegetable and animal oils and fats

2.64

1.26

1.00

2.31

0.84

0.19

0.47


Sugar

1.06

-5.70

0.89

4.17

5.08

7.38

8.53




 
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