WPI inflation down at four-month low of 1% in March on lower food prices

WPI inflation down at four-month low of 1% in March on decrease meals costs | Financial system Information

New Delhi: The annual price of inflation based mostly on month-to-month wholesale value index (WPI) stood at 1 per cent in March over the identical month final yr, in response to authorities information launched on Wednesday (April 15). The official WPI for all commodities (base 2011-12=100) for March 2020 declined by 0.9 per cent to 121.1 from 122.2 for the earlier month, stated an announcement issued by the Ministry of Commerce and Trade.

“The annual price of inflation based mostly on month-to-month WPI stood at 1 per cent for March 2020 (over March 2019) as in comparison with 2.26 per cent for the earlier month and three.1 per cent in the course of the corresponding month of the earlier yr,” it stated, including “build-up inflation price within the monetary yr to this point was 1 per cent in comparison with a build-up price of three.1 per cent within the corresponding interval of the earlier yr.”

“The speed of inflation based mostly on WPI Meals Index consisting of meals articles from main articles group and meals product from manufactured merchandise group decreased from 7.31 per cent in February 2020 to five.49 per cent in March 2020,” stated the assertion.

The motion of index for numerous commodity group is summarized under:

1. The index for ‘Meals Articles’ group declined by 2.1% to 151.6 (provisional) from 154.9 (provisional) for the earlier month on account of lower cost of egg (17%), poultry rooster (9%), tea (7%), fish-marine, maize and fruits & greens (5% every), jowar (4%), bajra and wheat (3% every), gram, paddy, betel leaves and urad (2% every) and fish-inland, arhar, pork, masur and mutton (1% every). Nonetheless, the worth of beef and buffalo meat (8%), moong and peas/chawali (4% every) and ragi and milk (1% every) moved up.

2. The index for ‘Non-Meals Articles’ group declined by 4.2% to 126.1 (provisional) from 131.6 (provisional) for the earlier month on account of lower cost of floriculture (30%), safflower (kardi seed) (12%), soyabean and gaur seed (8% every), sunflower (7%), uncooked rubber (4%), linseed, coir fibre, rape & mustard seed and hides (uncooked) (2% every) and niger seed, copra (coconut), uncooked jute and castor seed (1% every). Nonetheless, the worth of cotton seed (6%), groundnut seed (5%), skins (uncooked) (3%) and industrial wooden, uncooked silk, fodder and gingelly seed (sesamum) (1% every) moved up.

3. The index for ‘Minerals’ group rose by 4.2% to 153.8 (provisional) from 147.6 (provisional) for the earlier month on account of increased value of manganese ore (15%), copper focus (7%) andphosphorite (6%). Nonetheless, the worth of chromite (3%), limestone (2%) and bauxite, zinc focus and lead focus (1% every) declined.

4. The index for ‘Crude Petroleum & Pure Gasoline’ group declined by 6.6% to 81.3 (provisional) from 87.0 (provisional) for the earlier month on account of lower cost of crude petroleum (9%).

5. The index for ‘Mineral Oils’ group declined by 5.6% to 87.2 (provisional) from 92.4 (provisional) for the earlier month on account of lower cost of ATF (19%), naphtha (13%), HSD and kerosene (5% every), petrol and furnace oil (4% every) and LPG (3%). Nonetheless, the worth of petroleum coke (7%) moved up.

6. The index for ‘Manufacture of Meals Merchandise’ remained unchanged to its earlier stage of 136.9. The gadgets which decreased the place rice bran extract (9%), rice bran oil (3%), cottonseed oil cake (2%) and gur, rapeseed oil, gram powder (Besan), honey, rooster/duck, dressed- fesh/frozen, palm oil, maida, gola& related cattle feed, sunflower oil, vegetable starch, rice merchandise and cottonseed oil (1% every). Nonetheless, the worth of molasses (6%), espresso powder with chicory (4%), spices (together with combined spices) (3%), groundnut oil, fish frozen/canned/processed and mustard oil cake (2% every) and processed tea, vanaspati, mustard oil, bagasse, sooji (rawa), sugar confectionery, rice non-basmati, cornflake and ice cream (1% every) moved up.

7. The index for ‘Manufacture of Tobacco Merchandise’ group rose by 0.4% to 154.8 (provisional) from 154.2 (provisional) for the earlier month on account of increased value of different tobacco merchandise (1%). Nonetheless, the worth of cigarette (1%) declined.

8. The index for ‘Manufacture of Textiles’ group declined by 0.1% to 116.6 (provisional) from 116.7 (provisional) for the earlier month on account of lower cost of manufacture of knitted and crocheted materials (1%). Nonetheless, the worth of viscose yarn (2%) moved up.

9. The index for ‘Manufacture of Carrying Attire’ group rose by 0.1% to 138.0 (provisional) from 137.8 (provisional) for the earlier month on account of increased value of manufacture of carrying attire (woven), besides fur attire (1%). Nonetheless, the worth of manufacture of knitted and crocheted attire (1%) declined.

10. The index for ‘Manufacture of Leather-based and Associated Merchandise’ group rose by 0.1% to 117.9 (provisional) from 117.8 (provisional) for the earlier month on account of increased value of harness, saddles & different associated gadgets (2%) and chrome tanned leather-based and waterproof footwear (1% every). Nonetheless, the worth of journey items, purses, workplace luggage, and so on. and plastic/PVCchappals (1% every) declined.

11. The index for ‘Manufacture of Wooden and of Merchandise of Wooden and Cork ‘ group rose by 0.2% to 133.0 (provisional) from 132.7 (provisional) for the earlier month on account of increased value of picket field/crate (2%). Nonetheless, the worth of woodcutting, processed/sized (1%) declined.

12. The index for ‘Manufacture of Paper and Paper Merchandise’ group rose by 0.3% to 120.3 (provisional) from 120.0 (provisional) for the earlier month on account of increased value of pulpboard (4%), corrugated sheet field (3%), tissue paper (2%) and cardboard and corrugated paper board (1%). Nonetheless, the worth of a laminated plastic sheet (4%) and paper carton/field (2%) declined.

13. The index for ‘Printing and Copy of Recorded Media ‘ group rose by 1.2% to 153.3 (provisional) from 151.5 (provisional) for the earlier month on account of increased value of printed books (2%) and hologram (3d) and journal/periodical (1% every).

14. The index for ‘Manufacture of Chemical compounds and Chemical Merchandise’ group declined by 0.2% to 115.8 (provisional) from 116.0 (provisional) for the earlier month on account of lower cost of monoethyl glycol (10%), ammonia fuel (9%), sulphuric acid (8%), polystyrene, expandable (4%), natural solvent and catalysts (3% every), superphosphate/phosphatic fertilizer, others, alkylbenzene, different inorganic chemical compounds, polypropylene (PP) and camphor (2% every) and carbon black, ammonium phosphate, aniline (together with PNA, ONA, OCPNA), natural chemical compounds, shampoo, ethyl acetate, additive and adhesive excluding gum (1% every). 

Nonetheless, the worth of nitric acid (9%), hydrogen peroxide (6%), oleoresin, agarbatti, menthol and security matches (match field) (2% every) and phthalic anhydride, rest room cleaning soap, viscose staple fibre, ammonium nitrate, caustic soda (sodium hydroxide), gelatine, polyester fibre cloth, varnish (all sorts), fatty acid , poly vinyl chloride (PVC), liquid air & different gaseous merchandise, foundry chemical, explosive, di ammonium phosphate and combined fertilizer (1% every) moved up.

15. The index for ‘Manufacture of Prescription drugs, Medicinal Chemical and Botanical Merchandise’ group rose by 0.2% to 130.6 (provisional) from 130.3 (provisional) for the earlier month on account of increased value of vials/ampoule, glass, empty or stuffed (5%), simvastatin (2%) and API & formulations of nutritional vitamins, antioxidants, anti-malarial medicine and antibiotics & preparations thereof (1% every). Nonetheless, the worth of antidiabetic drug excluding insulin (i.e. tolbutam) (6%) and anti-retroviral medicine for HIV remedy (2%) declined.

16. The index for ‘Manufacture of Different Non-Metallic Mineral Merchandise’ group rose by 0.2% to 116.5 (provisional) from 116.3 (provisional) for the earlier month on account of increased value of stone, chip (6%), porcelain sanitary ware (3%), slag cement and cement superfine (2% every) and granite, toughened glass and fibre glass incl. sheet (1% every). Nonetheless, the worth of electrical insulating materials (2%) and non ceramic tiles, white cement, marble slab, ceramic tiles (vitrified tiles), peculiar sheet glass, railway sleeper, lime and calcium carbonate and clinker (1% every) declined.

17. The index for ‘Manufacture of Primary Metals’ group declined by 0.4% to 106.6 (provisional) from 107.0 (provisional) for the earlier month on account of lower cost of stainless-steel pencil ingots/billets/slabs (5%), MS pencil ingots and pig iron (2% every) and hot-rolled (HR) coils & sheets, together with slender strip and metal forgings – tough (1% every). Nonetheless, the worth of rails (6%), ferrosilicon (4%), stainless-steel coils, strips & sheets (3%), aluminum disk and circles (2%) and forged iron, castings, angles, channels, sections, metal (coated/not), brass metallic/sheet/coils, stainless-steel bars & rods, together with flats and ferrochrome (1% every) moved up.

18. The index for ‘Manufacture of Fabricated Metallic Merchandise, Besides Equipment and Gear’ group rose by 0.1% to 114.7 (provisional) from 114.6 (provisional) for the earlier month on account of increased value of cast metal rings and cylinders (2% every) and metal drums and barrels and metal container (1% every). Nonetheless, the worth of sanitary fittings of iron & metal (8%), jigs & fixture (5%), bracket (2%) and hand instruments and hose pipes inset or in any other case (1% every) declined.

19. The index for ‘Manufacture of Pc, Digital, and Optical Merchandise’ group declined by 0.2% to 109.3 (provisional) from 109.5 (provisional) for the earlier month on account of lower cost of digital printed circuit board  (PCB)/micro circuit (4%) and x-ray tools (2%). Nonetheless, the worth of the electro-diagnostic equipment, utilized in medical, surgical, dental or veterinary sciences (4%) moved up.

20. The index for ‘Manufacture of Electrical Gear’ group rose by 0.9% to 111.7 (provisional) from 110.7 (provisional) for the earlier month on account of increased value of the transformer (6%), cooling tower (2%) and jelly-filled cables and electrical welding machine (1% every). Nonetheless, the worth of fibre optic cables (3%), security fuse (2%) and electrical mixers/grinders/meals processors, electrical filament kind lamps, fluorescent tubes, rubber insulated cables and AC motor (1% every) declined.

21. The index for ‘Manufacture of Equipment and Gear’ group declined by 0.4% to 112.9 (provisional) from 113.4 (provisional) for the earlier month on account of lower cost of air or vacuum pump (4%), air fuel compressor together with compressor for fridge and curler and ball bearings (3% every), manufacture of bearings, gears, gearing and driving components, pharmaceutical equipment, mining, quarrying & metallurgical equipment/elements and dumper (2% every) and hydraulic tools (1%). Nonetheless, the worth of gasket package (7%) and excavator (1%) moved up.

22. The index for ‘Manufacture of Motor Autos, Trailers and Semi-Trailers’ group rose by 0.5% to 115.4 (provisional) from 114.8 (provisional) for the earlier month on account of increased value of minibus/bus (4%) and headlamp and cylinder liners (1% every). Nonetheless, the worth of brake pad/brake liner/brake block/brake rubber, others (3%), chassis of various automobile varieties (2%) and piston ring/piston and compressor (1%) declined.

23. The index for ‘Manufacture of Furnishings’ group rose by 2.1% to 130.9 (provisional) from 128.2 (provisional) for the earlier month on account of increased value of froth and rubber mattress (14%). Nonetheless, the worth of hospital furnishings (7%) and picket furnishings (1%) declined.

24. The index for ‘Different Manufacturing’ group rose by 0.5% to 117.6 (provisional) from 117.0 (provisional) for the earlier month on account of increased value of gold & gold ornaments (1%) and cricket bat (1%). Nonetheless, the worth of silver (6%), cricket ball (2%) and sports activities items of rubber (incl. balls) (1%) declined.
 
25. The speed of inflation based mostly on WPI Meals Index consisting of ‘Meals Articles’ from Major Articles group and ‘Meals Product’ from Manufactured Merchandise group decreased from 7.31% in February, 2020 to five.49% in March, 2020.

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