The Ministry of Commerce and Industry released a review of the numbers for wholesale price index for the month of December 2012.
The official Wholesale Price Index for ˜All Commodities™ (Base: 2004-05 = 100) for the month December, 2012 declined by 0.1 percent to 168.6 (Provisional) from 168.8 (Provisional) for the previous month.
INFLATION
The annual rate of inflation, based on monthly WPI, stood at 7.18% (Provisional) for the month of December, 2012 (over December, 2011) as compared to 7.24% (Provisional) for the previous month and 7.74% during the corresponding month of the previous year. Build up inflation in the financial year so far was 4.72% compared to a build up of 5.22% 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 20.12%)
The index for this major group declined by 0.4 percent to 220.0 (Provisional) from 220.8 (Provisional) for the previous month. The groups and items which showed variations during the month are as follows:-
The index for ˜Food Articles™ group declined by 0.5 percent to 212.2 (Provisional) from 213.2 (Provisional) for the previous month due to lower price of coffee (5%), fruits & vegetables and arhar (4% each), gram and fish-marine ( 3% each), masur (2%) and urad (1%). However, the price of bajra (8%), barley (5%), maize, rice, tea, ragi and poultry chicken (3% each), jowar and fish-inland (2% each) and wheat, moong, mutton and condiments & spices (1 % each) moved up.
The index for ˜Non-Food Articles™ group rose by 0.8 percent to 202.9 (Provisional) from 201.3 (Provisional) for the previous month, due to higher price of guar seed (31%), gingelly seed (8%), flowers (7%), raw silk, logs & timber and sunflower (4% each), fodder, copra and tobacco (3% each), linseed (2%) and coir fibre (1%). However, the price of raw rubber (7%), niger seed (4%), groundnut seed (3%), castor seed and raw jute (2% each) and cotton seed, mesta and rape & mustard seed (1% each) declined.
The index for ˜Minerals™ group declined by 1.8 percent to 340.8 (Provisional) from 347.1 (Provisional) for the previous month due to lower price of iron ore and copper ore (3% each), steatite and crude petroleum (2% each) and magnesite (1%). However, the price ofsillimanite (12%), barytes (8%) and zinc concentrate (4%) moved up.
FUEL & POWER (Weight 14.91%)
The index for this major group rose by 0.1 percent to 188.9 (Provisional) from 188.8 (Provisional) for the previous month due to higher price of bitumen (17%). However, the price of furnace oil (2%) and aviation turbine fuel and petrol (1% each) declined.
MANUFACTURED PRODUCTS (Weight 64.97%)
The index for this major group remained unchanged at its previous month™s level of 148.0 (Provisional). The groups and items for which the index showed variations during the month are as follows:-
The index for ˜Food Products™ group declined by 0.4 percent to 167.1 (Provisional) from 167.7 (Provisional) for the previous month due to lower price of oil cakes and gur (5% each), tea dust (unblended) (4%), tea leaf (unblended), canned fish and tea leaf (blended) (3% each), rice bran oil (2%) and wheat flour (atta) and gram powder (besan) (1 % each). However, the price of gingelly oil (8%), groundnut oil (6%), processed prawn (3%), mixed spices, gola (cattle feed), tea dust (blended) and copra oil (2% each) and bakery products, khandsari,soyabean oil, sooji (rawa), sunflower oil and maida (1% each) moved up.
The index for ˜Beverages, Tobacco & Tobacco Products™ group declined by 0.1 percent to 176.6 (Provisional) from 176.7 (Provisional) for the previous month due to lower price of dried tobacco and beer (2% each) and imfl- blended (1%). However, the price of bidi (1%) moved up.
The index for ˜Textiles™ group rose by 0.3 percent to 132.2 (Provisional) from 131.8 (Provisional) for the previous month due to higher price of jute sacking bag (2%). However, the price of tyre cord fabric (1%) declined.
The index for ˜Wood & Wood Products™ group rose by 0.1 percent to 172.3 (Provisional) from 172.1 (Provisional) for the previous month due to higher price of plywood & fibre board (1%).
The index for ˜Paper & Paper Products™ group rose by 0.4 percent to 137.2 (Provisional) from 136.7 (Provisional) for the previous month due to higher price of corrugated sheet boxes, books/ periodicals/ journals, paper for printing / poster and cream laid woven paper (1% each).
The index for ˜Leather & Leather Products™ group rose by 1.1 percent to 135.0 (Provisional) from 133.5 (Provisional) for the previous month due to higher price of leather footwear (2%) and leathers (1%).
The index for ˜Rubber & Plastic Products™ group rose by 0.1 percent to 138.1 (Provisional) from 138.0 (Provisional) for the previous month due to higher price of rubber transmission belt (3%), plastic bottles, plastic cabinet, plastic/pvc chappals and reclined rubber (2% each) and bus/truck tyre, plastic/pvc shoes and hdpe woven fabric (1% each). However, the price of plastic/pvc pipe (3%) and rubber components & parts (1%) declined.
The index for ˜Chemicals & Chemical Products™ group rose by 0.1 percent to 144.0 (Provisional) from 143.9 (Provisional) for the previous month due to higher price of non-cyclic compound, washing powder, polymers, pesticides and photographic goods (1% each). However, the price of tooth paste/ tooth powder (3%), turpentine oil (2%) and rubber chemicals and ayurvedic medicines (1% each) declined.
The index for ˜Non-Metallic Mineral Products™ group declined by 0.1 percent to 163.3 (Provisional) from 163.5 (Provisional) for the previous month due to lower price of glass bottles & bottleware and grey cement (1% each). However, the price of marbles (6%) and white cement (1%) moved up.
The index for ˜Basic Metals, Alloys & Metal Products™ group declined by 0.4 percent to 165.7 (Provisional) from 166.4 (Provisional) for the previous month due to lower price of pencil ingots and steel structures (5% each), pig iron and melting scrap (2% each) and pipes/tubes/rods/strips, ferro chrome, rounds, hrc, gp/gc sheets and joist & beams (1% each). However, the price of silver (2%) and iron & steel wire, copper products (other than wire), lead, billets, aluminium, steel: pipes & tubes and steel castings (1% each) moved up.
The index for ˜Machinery & Machine Tools™ group rose by 0.3 percent to 128.9 (Provisional) from 128.5 (Provisional) for the previous month due to higher price of electric motor starters, industrial furnaces, electric switch gears and ball/roller bearing (2% each) and electric motors, industrial valves, engines, fans, regulators, material handling equipments, hydraulic equipment and conductor (1% each). However, the price of pump & assembly (1%) declined.
The index for ˜Transport, Equipment & Parts™ group rose by 0.4 percent to 131.0 (Provisional) from 130.5 (Provisional) for the previous month due to higher price of bi-cycles (5%) and tractors and motor vehicles (1% each). However, the price of buses /mini buses / trucks (1%) declined.
FINAL INDEX FOR THE MONTH OF OCTOBER , 2012 (BASE YEAR: 2004-05=100)
For the month of October, 2012, the final Wholesale Price Index for ˜All Commodities™ (Base: 2004-05=100) stood at 168.5 as compared to 168.7 (provisional) and annual rate of inflation based on final index stood at 7.32 percent as compared to 7.45 percent respectively as reported on 14.11.2012.
