India's wholesale price inflation touches 3.59 percent in October

"The annual rate of inflation, based on monthly WPI, stood at 3.59% (provisional) for the month of October, 2017 (over October, 2016) as compared to 2.60% (provisional) for the previous month and 1.27% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 2.03% compared to a build up rate of 3.53% in the corresponding period of the previous year," read a government statement.

The index for this major group rose by 2 percent to 133.4 (provisional) from 130.8 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for 'Food Articles' group rose by 2.2 percent to 148.0 (provisional) from 144.8 (provisional) for the previous month due to higher price of fruits & vegetables (9%), tea (5%), poultry chicken (3%), egg (2%) and condiments & spices, barley and paddy (1% each).  However, the price of betel leaves (9%), ragi (7%), gram and bajra (5% each), arhar (4%), masur and jowar (3% each), pork (2%) and moong, urad, rajma, maize and coffee (1% each) declined.

The index for 'Non-Food Articles' group declined by 0.9 percent to 119.2 (provisional) from 120.3 (provisional) for the previous month due to lower price of raw cotton (5%), fodder, mesta and cotton seed (3% each), raw rubber, safflower (kardi seed) and castor seed (2% each) and hides (raw), raw jute, gingelly seed, guar seed and groundnut seed (1% each).  However, the price of floriculture (8%), raw wool and raw silk (2% each) and soyabean, sunflower, copra (coconut), niger seed and coir fibre (1% each) moved up.

The index for 'Minerals' group rose by 1.1 percent to 120.8 (provisional) from 119.5 (provisional) for the previous month due to higher price of sillimanite (14%), lead concentrate (6%), copper concentrate and zinc concentrate (3% each), manganese ore and bauxite (2% each) and phosphorite (1%). However, the price of limestone (5%) and chromite (2%) declined.

The index for 'Crude Petroleum & Natural Gas' group rose by 8.6 percent to 69.8 (provisional) from 64.3 (provisional) for the previous month due to higher price of natural gas (11%) and crude petroleum (8%).

The index for this major group rose by 3.1 percent to 93.5 (provisional) from 90.7 (provisional) for the previous month The groups and items which showed variations during the month are as follows:-

The index for 'Mineral Oils' group rose by 3.9 percent to 82.2 (provisional) from 79.1 (provisional) for the previous month due to higher price of LPG (9%), naphtha, petroleum coke and ATF (8% each), furnace oil (7%), kerosene (5%) and bitumen, HSD and petrol (2% each).

The index for 'Electricity' group rose by 4 percent to 106.1 (provisional) from 102.0 (provisional) for the previous month due to higher price of electricity (4%).

The index for this major group rose by 0.3 percent to 113.7 (provisional) from 113.4 (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 128.3 (provisional) from 128.2 (provisional) for the previous month due to higher price of honey (6%), other meats, preserved/processed, processing and preserving of fish, crustaceans & molluscs & products thereof, instant coffee and coffee powder with chicory (3% each), mustard oil,  manufacture of cocoa, chocolate & sugar confectionery, manufacture of macaroni, noodles, couscous & similar farinaceous products and buffalo meat [fresh/frozen] (2% each) and gur, rice bran oil, sooji (rawa), wheat flour (atta), spices (including mixed spices), groundnut oil, chicken/duck, dressed-fresh/frozen, manufacture of processed ready to eat food,  manufacture of starches and starch products, bagasse, processing & preserving of fruit & vegetables and palm oil (1% each). However, the price of molasses (7%), copra oil (3%), rice products and manufacture of health supplements (2% each) and cotton seed oil, butter, castor oil, manufacture of prepared animal feeds, wheat bran, rapeseed oil, sugar and vanaspati (1% each) declined.

The index for 'Manufacture of Beverages' group declined by 0.9 percent to 119 (provisional) from 120.1 (provisional) for the previous month due to lower price of bottled mineral water and aerated drinks/soft drinks (incl. soft drink concentrates) (2% each) and wine and spirits (1% each).

The index for 'Manufacture of Tobacco Products' group declined by 1.3 percent to 148.9 (provisional) from 150.9 (provisional) for the previous month due to lower price of cigarette (5%) and other tobacco products (2%).  However, the price of biri (4%) moved up.

The index for 'Manufacture of Textiles' group declined by 0.2 percent to 113.2 (provisional) from 113.4 (provisional) for the previous month due to lower price of cotton yarn (2%) and woollen yarn (1%).   However, the price of manufacture of knitted & crocheted fabrics (2%) and synthetic yarn (1%) moved up.

The index for 'Manufacture of Wearing Apparel' group rose by 0.4 percent to 137.1 (provisional) from 136.6 (provisional) for the previous month due to higher price of b. manufacture of knitted and crocheted apparel (2%).

The index for 'Manufacture of Leather and Related Products' group declined by 0.1 percent to 119.1 (provisional) from 119.2 (provisional) for the previous month due to lower price of leather shoe (2%) and harness, saddles & other related items and  vegetable tanned leather (1% each).  However, the price of belt & other articles of leather (7%) and athletic/sport shoes, waterproof footwear and plastic/pvc chappals (1% each) moved up.

The index for 'Manufacture of Wood and of Products of Wood and Cork ' group declined by 0.1 percent to 132.3 (provisional) from 132.4 (provisional) for the previous month due to lower price of wooden panel and wooden block-compressed or not (2% each) and plywood block boards and wooden splint (1% each).  However, the price of particle boards, wooden board (non-electrical) and wood cutting, processed/sized (1% each) moved up.

The index for 'Manufacture of Paper and Paper Products' group rose by 0.3 percent to 119.6 (provisional) from 119.3 (provisional) for the previous month due to higher price of card board (6%), base paper (2%) and paper for printing & writing, laminated plastic sheet and map litho paper (1% each).  However, the price of tissue paper (6%), paper bag including craft paper bag (5%) and newsprint, hard board, pulp board and kraft paper (1% each) declined.

The index for 'Printing and Reproduction of Recorded Media ' group declined by 1 percent to 143.1 (provisional) from 144.6 (provisional) for the previous month due to lower price of printed labels/posters/calendars (6%), newspaper (3%) and printed books (2%).  However, the price of journal/periodical and printed form & schedule (3% each) moved up.

The index for 'Manufacture of Chemicals and Chemical Products' group rose by 0.4 percent to 111.7 (provisional) from 111.3 (provisional) for the previous month due to higher price of sulphuric acid (6%), carbon black and menthol (4% each), camphor, catalysts, phthalic anhydride and polyester chips or polyethylene terepthalate (pet) chips (3% each), superphospate / phosphatic fertilizer, others, ammonia gas, alkyl benzene, viscose staple fibre, aromatic chemicals, caustic soda (sodium hydroxide), ethylene oxide, organic solvent, acrylic fibre and mosquito coil (2% each) and phosphoric acid, amine, poly propylene (pp), oleoresin, acetic acid & its derivatives, ammonium nitrate, sodium silicate, detergent cake, washing soap cake/bar/powder, explosive, ammonium phosphate, fatty acid, other inorganic chemicals, adhesive excluding gum, gelatine, shampoo, dye stuff/dyes incl. dye intermediates & pigments/colours and liquid air & other gaseous products (1% each).  However, the price of creams & lotions for external application (10%), nitrogenous fertilizer, others and plasticizer (4% each), powder coating material (3%), toilet soap, foundry chemical, varnish (all types), mono ethyl glycol and organic surface active agent (2% each) and agro chemical formulation, soda ash/washing soda, nitric acid, aniline (including pna, ona, ocpna), xlpe compound, poly vinyl chloride (pvc) and organic chemicals (1% each) declined.

The index for 'Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products' group rose by 0.5 percent to 122.1 (provisional) from 121.5 (provisional) for the previous month due to higher price of anti cancer drugs (5%), ayurvedic medicaments (3%), antibiotics & preparations thereof and antipyretic, analgesic, anti-inflammatory formulations (2% each) and medical accessories and api & formulations of vitamins (1% each).  However, the price of anti-malarial drugs (8%), vaccine for polio (7%), vials/ampoule, glass, empty or filled (3%), sulpha drugs and plastic capsules (2% each) and cotton wool (medicinal) (1%) declined.

The index for 'Manufacture of Rubber and Plastics Products' group rose by 0.7 percent to 107.6 (provisional) from 106.8 (provisional) for the previous month due to higher price of v belt (7%), plastic box/container (5%), tooth brush, 2/3 wheeler tyre and rubberized dipped fabric (4% each), 2/3 wheeler rubber tube and plastic tape (3% each) and rubber moulded goods, polyester film (non-metalized), thermocol, pvc fittings & other accessories, plastic bag, polypropylene film, plastic furniture, plastic tank and rubber components & parts (1% each).  However, the price of rubber cloth/sheet (8%), processed rubber and plastic components (2% each) and plastic bottle, medium & heavy commercial vehicle tyre, plastic button, motor car tyre and solid rubber tyres/wheels (1% each) declined.

The index for 'Manufacture of other Non-Metallic Mineral Products' group declined by 0.1 percent to 111.8 (provisional) from 111.9 (provisional) for the previous month due to lower price of ordinary sheet glass (3%), ordinary portland cement (2%) and poles & posts of concrete, pozzolana cement, plain bricks and cement superfine (1% each).  However, the price of porcelain sanitary ware (4%), non ceramic tiles and clinker (3% each), lime & calcium carbonate (2%) and porcelain crockery, marble slab, asbestos corrugated sheet, toughened glass, stone, chip and cement blocks (concrete) (1% each) moved up.

The index for 'Manufacture of Basic Metals' group rose by 0.3 percent to 100.7 (provisional) from 100.4 (provisional) for the previous month due to higher price of angles, channels, sections, steel (coated/not) (4%), ferrosilicon, aluminium powder and aluminium ingot (3% each), ms castings, stainless steel coils, strips & sheets, stainless steel tubes, zinc metal/zinc blocks, ferrochrome, hot rolled (hr) coils & sheets, including narrow strip, cold rolled (CR) coils & sheets, including narrow strip, aluminium disk and circles and brass metal/sheet/coils (2% each) and lead ingots, bars, blocks, plates, steel cables, aluminium shapes-bars/rods/flats, copper shapes-bars/rods/plates/strips, aluminium metal, copper metal/copper rings, ms wire rods and gp/gc sheet (1% each).  However, the price of pig iron (3%), ms pencil ingots, stainless steel pencil ingots/billets/slabs and alloy steel castings (2% each) and mild steel (ms) blooms, ms bright bars, stainless steel bars & rods, including flats and silicomanganese (1% each) declined.

The index for 'Manufacture of Fabricated Metal Products, Except Machinery and Equipment' group rose by 0.3 percent to 108.8 (provisional) from 108.5 (provisional) for the previous month due to higher price of hand tools (11%), forged steel rings (6%), steel drums & barrels and cylinders (2% each) and steel container and bracket (1% each).  However, the price of stainless steel razor (21%), sanitary fittings of iron & steel (16%), stainless steel utensils and lock/padlock (4% each), electrical stamping- laminated or otherwise (3%), steel door (2%) and pressure cooker and jigs & fixture (1% each) declined.

The index for 'Manufacture of Computer, Electronic and Optical Products' group rose by 2.4 percent to 111.8 (provisional) from 109.2 (provisional) for the previous month due to higher price of telephone sets including mobile hand sets (11%), microscope (8%), meter (non-electrical) (3%), capacitors, scientific time keeping device and colour tv (2% each) and air conditioner (1%).. However, the price of ups in solid state drives (3%) declined.

The index for 'Manufacture of Machinery and Equipment' group rose by 0.8 percent to 109.1 (provisional) from 108.2 (provisional) for the previous month due to higher price of pressure vessel & tank for fermentation & other food processing (18%), precision machinery equipment/form tools (6%), chillers (5%), open end spinning machinery, printing machinery and pharmaceutical machinery (3% each), roller & ball bearings, manufacture of bearings, gears, gearing & driving elements and air filters (2% each) and industrial valve, agriculture implements, concrete vibrator & mixture, air or vacuum pump, material handling, lifting & hoisting equipment, sewing machines, centrifugal pumps and cranes (1% each).. However, the price of steam turbines (12%), rice mill machinery and injection pump (5% each), lathes, chemical equipment & system and gasket kit (3% each), conveyors-non-roller type and oil pump (2% each) and separator, air gas compressor including compressor for refrigerator, moulding machine, excavator and packing machine (1% each) declined.

The index for 'Manufacture of Motor Vehicles, Trailers and Semi-Trailers' group rose by 0.1 percent to 110.6 (provisional) from 110.5 (provisional) for the previous month due to higher price of brake pad/brake liner/brake block/brake rubber, others (3%) and minibus/bus, axles of motor vehicles, piston ring/piston & compressor, radiators & coolers and crankshaft (1% each).  However, the price of body (for commercial motor vehicles) (5%) and chain (1%) declined.

The index for 'Manufacture of Other Transport Equipment' group rose by 0.2 percent to 109.8 (provisional) from 109.6 (provisional) for the previous month due to higher price of propellers & blades of boats/ships (1%).  However, the price of wagons (1%) declined.

The index for 'Manufacture of Furniture' group rose by 3.7 percent to 124.6 (provisional) from 120.1 (provisional) for the previous month due to higher price of foam and rubber mattress (15%), wooden furniture (3%) and steel shutter gate (2%). However, the price of hospital furniture (2%) declined.

The index for 'Other Manufacturing' group rose by 1.2 percent to 106.6 (provisional) from 105.3 (provisional) for the previous month due to higher price of stringed musical instruments (incl. santoor, guitars, etc.) (14%), cricket bat and silver (2% each) and gold & gold ornaments (1%).  However, the price of cricket ball and non mechanical toys (1% each) declined.

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 1.99% in September, 2017 to 3.23% in October, 2017.

For the month of August, 2017, the final Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) and annual rate of inflation remained unchanged at its provisional level of 114.8 and 3.24 percent respectively as reported on 14.09.2017.

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