Index Numbers of Wholesale Price in India (Base: 2011-12=100) Review for the month of October, 2018

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of October, 2018 rose by 0.7 percent to 121.7 (provisional) from 120.8 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 5.28% (provisional) for the month of October, 2018 (over October, 2017) as compared to 5.13% (provisional) for the previous month and 3.68% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 4.64% compared to a build up rate of 2.12% 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 groups is summarized below:-

PRIMARY ARTICLES (Weight 22.62%)

The index for this major group rose by 0.7 percent to 136.3 (provisional) from 135.4 (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 0.9 percent to 145.8 (provisional) from 144.5 (provisional) for the previous month due to higher price of peas/chawali (6%), bajra (5%), jowar and poultry chicken (4% each), urad and maize (3% each), barley, gram, fruits & vegetables, pork and egg (2% each) and wheat, beef & buffalo meat and ragi (1% each). However, the price of betel leaves (3%), tea and fish-marine (2% each) and condiments & spices, moong, arhar and rajma (1% each) declined.

The index for ‘Non-Food Articles’ group declined by 1.1 percent to 123.4 (provisional) from 124.8 (provisional) for the previous month due to lower price of floriculture (9%), copra (coconut) (6%), raw silk and skins (raw) (4% each), tobacco, raw rubber and hides (raw) (3% each), soyabean (2%) and fodder (1%).  However, the price of gingelly seed  (6%), castor seed and sunflower (5% each), guar seed and safflower (kardi seed) (3% each) and mesta, raw wool, niger seed, raw jute, groundnut seed and cotton seed (1% each) moved up.

The index for ‘Minerals’ group declined by 4.3 percent to 129.4 (provisional) from 135.2 (provisional) for the previous month due to lower price of garnet (21%), sillimanite (19%), copper concentrate (8%), iron ore (5%), chromite (4%) and limestone (2%). However, the price of manganese ore (2%) and lead concentrate (1%) moved up.

The index for 'Crude Petroleum & Natural Gas' group rose by 4.1 percent to 99.8 (provisional) from 95.9 (provisional) for the previous month due to higher price of crude petroleum (6%).

FUEL & POWER (Weight 13.15%)

The index for this major group rose by 3.6 percent to 111.1 (provisional) from 107.2 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

MANUFACTURED PRODUCTS (Weight 64.23%)

The index for ‘Mineral Oils’ group rose by 5.4 percent to 107.4 (provisional) from 101.9 (provisional) for the previous month due to higher price of bitumen (18%), furnace oil (10%), naphtha (9%), ATF (8%), LPG (6%), kerosene, HSD and petrol (4% each) and petroleum coke (1%).

The index for 'Electricity' group rose by 2.6 percent to 112.4 (provisional) from 109.6 (provisional) for the previous month due to higher price of electricity (3%).

The index for this major group rose by 0.3 percent to 118.8 (provisional) from 118.5 (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 0.1 percent to 129.5 (provisional) from 129.4 (provisional) for the previous month due to higher price of other meats, preserved/processed (6%), castor oil (4%), manufacture of cocoa, chocolate & sugar confectionery and processing & preserving of fish, crustaceans & molluscs & products thereof (3% each), salt, powder milk, maida and sugar (2% each) and manufacture of starches & starch products, gram powder (besan), instant coffee, sooji (rawa), groundnut oil, wheat flour (atta), manufacture of macaroni, noodles, couscous & similar farinaceous products, manufacture of processed ready to eat food and vanaspati (1% each).  However, the price of molasses (7%), rice products (5%), coffee powder with chicory (3%), chicken/duck, dressed-fresh/frozen, processed tea and  spices (including mixed spices) (2% each) and rice bran oil, cotton seed oil, condensed milk, copra oil, butter, ice cream, ghee, gur, palm oil and manufacture of bakery products (1% each) declined.

The index for ‘Manufacture of Beverages’ group rose by 0.4 percent to 120.9 (provisional) from 120.4 (provisional) for the previous month due to higher price of rectified spirit and country liquor (1% each).

The index for ‘Manufacture of Tobacco Products’ group rose by 0.7 percent to 150.6 (provisional) from 149.6 (provisional) for the previous month due to higher price of cigarette and other tobacco products (1% each).

The index for ‘Manufacture of Textiles’ group rose by 0.1 percent to 119.0 (provisional) from 118.9 (provisional) for the previous month due to higher price of manufacture of other textiles (2%) and woollen yarn, synthetic yarn, viscose yarn,  weaving & finishing of textiles and manufacture of cordage, rope, twine & netting (1% each). However, the price of  manufacture of made-up textile articles, except apparel (3%) declined

The index for ‘Manufacture of Wearing Apparel’ group rose by 0.7 percent to 139.6 (provisional) from 138.6 (provisional) for the previous month due to higher price of manufacture of knitted & crocheted apparel (2%).

The index for ‘Manufacture of Leather and Related Products’ group declined by 0.8 percent to 122.0 (provisional) from 123.0 (provisional) for the previous month due to lower price of chrome tanned leather (3%), leather shoe, athletic/sport shoes and waterproof footwear (1% each).  However, the price of belt & other articles of leather (6%), vegetable tanned leather (2%) and travel goods, handbags, office bags, etc. and canvas shoes (1% each) moved up.

The index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group declined by 0.7 percent to 132.7 (provisional) from 133.7 (provisional) for the previous month due to lower price of wooden box/crate (4%) and particle boards and lamination wooden sheets/veneer sheets (1% each).  However, the price of wooden block-compressed or not (2%) and timber/wooden plank, sawn/resawn and wood cutting, processed/sized (1% each) moved up.

The index for ‘Manufacture of Paper and Paper Products’ group rose by 0.6 percent to 123.9 (provisional) from 123.1 (provisional) for the previous month due to higher price of paper for printing & writing (4%), corrugated paper board, kraft paper and base paper (2% each) and card board, laminated paper, laminated plastic sheet, map litho paper and bristle paper board (1% each).  However, the price of tissue paper (2%) and corrugated sheet box, paper carton/box, hard board and duplex paper (1% each) declined.

The index for ‘Printing and Reproduction of Recorded Media’ group declined by 1.0 percent to 146.9 (provisional) from 148.4 (provisional) for the previous month due to lower price of printed form & schedule (5%), journal/periodical (2%) and printed books (1%).  However, the price of sticker plastic (3%) and hologram (3D) and printed labels/posters/calendars (1% each) moved up.

The index for ‘Manufacture of Chemicals and Chemical Products’ group rose by 0.9 percent to 120.4 (provisional) from 119.3 (provisional) for the previous month due to higher price of gelatine (7%), shampoo and sulphuric acid (5% each), varnish (all types), carbon black and ammonium phosphate (4% each), sodium silicate, agro chemical formulation, alkyl benzene, ethyl acetate, ammonia liquid, ammonia gas and nitrogenous fertilizer, others (3% each), plasticizer, di- ammonium phosphate, caustic soda (sodium hydroxide), polyester film (metalized), soda ash/washing soda, insecticide & pesticide, aromatic chemicals, printing ink, tooth paste/tooth powder, camphor, liquid air & other gaseous products, ammonium nitrate, toilet soap, rubber chemicals and poly propylene (pp) (2% each) and organic surface active agent, polyester chips or polyethylene terepthalate (pet) chips, alcohols, organic solvent, explosive, agarbatti, phthalic anhydride, superphospate/phosphatic fertilizer, others, urea, catalysts, organic chemicals, epoxy, liquid, hair oil/body oil, detergent cake, washing soap cake/bar/powder, polyethylene, dye stuff/dyes incl. dye intermediates & pigments/colours, other petrochemical intermediates, paint, powder coating material, phosphoric acid, ethylene oxide, menthol and poly vinyl chloride (pvc) (1% each).  However, the price of amine (3%), mono ethyl glycol, safety matches (match box), additive and xlpe compound (2% each) and nitric acid, fungicide, liquid and adhesive tape (non-medicinal) (1% each) declined.

The index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 0.9 percent to 124.3 (provisional) from 123.2 (provisional) for the previous month due to higher price of anti allergic drugs (6%), anti inflammatory preparation (5%), anti cancer drugs (4%) and simvastatin, digestive enzymes & antacids, api & formulations of vitamins, antibiotics & preparations thereof, plastic capsules, cotton wool (medicinal), antiseptics & disinfectants and anti-retroviral drugs for HIV treatment (1% each).

The index for ‘Manufacture of Rubber and Plastics Products’ group rose by 0.5 percent to 110.1 (provisional) from 109.6 (provisional) for the previous month due to higher price of plastic button and conveyer belt (fibre based) (4% each), tooth brush, plastic film, rubber moulded goods, polypropylene film and 2/3 wheeler rubber tube (2% each) and rubber tread, polyester film (non-metalized), plastic tape, motor car tyre and rubber cloth/sheet (1% each).  However, the price of rubber crumb and condoms (2% each) and elastic webbing, tractor tyre, polythene film and cycle/cycle rickshaw tyre (1% each) declined.

The index for ‘Manufacture of Other Non-Metallic Mineral Products’ group declined by 0.1 percent to 115.8 (provisional) from 115.9 (provisional) for the previous month due to lower price of cement superfine (5%), porcelain sanitary ware (4%) and poles & posts of concrete (1% each).  However, the price of ordinary sheet glass (3%), glass bottle (2%) and ceramic tiles (vitrified tiles), clinker, non ceramic tiles and stone, chip (1% each) moved up.

The index for ‘Manufacture of Basic Metals’ group rose by 0.7 percent to 114.6 (provisional) from 113.8 (provisional) for the previous month due to higher price of steel forgings-rough (16%), stainless steel pencil ingots/billets/slabs and  brass metal/sheet/coils (3% each), aluminium powder, copper metal/copper rings, cast iron, castings and ferrochrome (2% each) and other ferro alloys, rails, gp/gc sheet, aluminium disk & circles, ferromanganese, copper shapes-bars/rods/plates/strips, aluminium metal, galvanized iron pipes, ferrosilicon, cold rolled (CR) coils & sheets, including narrow strip, stainless steel coils, strips & sheets, stainless steel bars & rods, including flats, aluminium alloys and steel cables (1% each).  However, the price of MS castings, MS wire rods, sponge iron/direct reduced iron (DRI), alumnium foil, MS pencil ingots and MS bright bars (1% each) declined.

The index for ‘Manufacture of Fabricated Metal Products, Except Machinery and Equipment’ group rose by 0.4 percent to 115.7 (provisional) from 115.2 (provisional) for the previous month due to higher price of copper bolts, screws, nuts (3%), lock/padlock, bolts, screws, nuts & nails of iron & steel, forged steel rings, bracket and steel container (2% each) and steel pipes, tubes & poles, metal cutting tools & accessories, hand tools, steel drums & barrels, cylinders and stainless steel tank (1% each).  However, the price of steel structures, pressure cooker and stainless steel utensils (1% each) declined.

The index for ‘Manufacture of Computer, Electronic and Optical Products’ group declined by 0.1 percent to 112.9 (provisional) from 113.0 (provisional) for the previous month due to lower price of meter (non-electrical), watch, air conditioner and capacitors (1% each).  However, the price of electro-diagnostic apparatus, used in medical, surgical, dental or veterinary sciences (5%) and scientific time keeping device and colour TV (1% each) moved up.

The index for ‘Manufacture of Electrical Equipment’ group declined by 0.2 percent to 111.6 (provisional) from 111.8 (provisional) for the previous month due to lower price of transformer, connector/plug/socket/holder-electric and fibre optic cables (2% each) and solenoid valve and refrigerators (1% each).  However, the price of flourescent tube, electrical resistors (except heating resistors) and electric filament type lamps (3% each), jelly filled cables, insulating & flexible wire, incandescent lamps, amplifier and ACSR conductors (2% each) and copper wire, electric mixers/grinders/food processors, rubber insulated cables and meter panel (1% each) moved up..

The index for ‘Manufacture of Machinery and Equipment’ group rose by 0.1 percent to 111.4 (provisional) from 111.3 (provisional) for the previous month due to higher price of pressure vessel & tank for fermentation & other food processing (14%), conveyors-non-roller type (4%), dumper, chillers, cranes and sugar machinery (3% each), air or vacuum pump and roller & ball bearings (2% each), manufacture of bearings, gears, gearing & driving elements, grinding or polishing machine, excavator, water purifier, agriculture implements, threshers, soil preparation & cultivation machinery (other than tractors) and centrifugal pumps (1% each). However, the price of injection pump (6%), precision machinery equipment/form tools (3%), mining, quarrying & metallurgical machinery/parts, open end spinning machinery, pump sets without motor and pharmaceutical machinery (2% each) and gasket kit, oil pump, industrial valve, filtration equipment, hydraulic equipment and evaporator (1% each) declined.

The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group declined by 0.6 percent to 112.9 (provisional) from 113.6 (provisional) for the previous month due to lower price of passenger vehicles (3%), seat for motor vehicles and axles of motor vehicles (2% each) and, minibus/bus, chain and piston ring/piston & compressor (1% each). However, the price of wheels/wheels & parts (3%), brake pad/brake liner/brake block/brake rubber, others, steering gear control system, silencer & damper and release valve (2% each) and light, medium & heavy commercial vehicles, radiators & coolers, cylinder liners, chassis of different vehicle types and gear box & parts (1% each) moved up.

The index for ‘Manufacture of Other Transport Equipment’ group rose by 0.5 percent to 112.0 (provisional) from 111.4 (provisional) for the previous month due to higher price of railway brake gear (2%) and bicycles of all types, motor cycles and tanker (1% each).

The index for ‘Manufacture of Furniture’ group rose by 1.5 percent to 127.3 (provisional) from 125.4 (provisional) for the previous month due to higher price of foam and rubber mattress (8%), hospital furniture (2%) and steel shutter gate (1%).

The index for ‘Other Manufacturing’ group rose by 0.1 percent to 107.1 (provisional) from 107.0 (provisional) for the previous month due to higher price of cricket ball and cricket bat (3% each) and silver (1%). However, the price of playing cards (3%) and plastic moulded-others toys (2%) 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 Product’ from Manufactured Products group decreased from 0.14% in September, 2018 to -0.64% in October, 2018.

FINAL INDEX FOR THE MONTH OF AUGUST, 2018 (BASE YEAR: 2011-12=100)

For the month of August, 2018, the final Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) stood at 120.1 as compared to 120.0 (provisional) and annual rate of inflation based on final index stood at 4.62 percent as compared to 4.53 percent (provisional) respectively as reported on 14.09.2018.

Next date of press release: 14/12/2018 for the month of November, 2018

This press release is available at our home page http://eaindustry.nic.in