Wholesale inflation touches historic low of (-)4.05 pct

"The annual rate of inflation, based on monthly WPI, stood at -4.05% (provisional) for the month of July, 2015 (over July, 2014) as compared to -2.40% (provisional) for the previous month and 5.41% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 0.80% compared to a build up rate of 2.61% in the corresponding period of the previous year," read a government statement.

The index for this major group declined by 0.5 percent to 247.2 (provisional) from 248.4 (provisional) for the previous month.  The groups and items which showed variations during the month are as follows:-

The index for ‘Food Articles’ group declined by 0.6 percent to 255.7 (provisional) from 257.3 (provisional) for the previous month due to lower price of fish-inland (5%), fruits & vegetables, jowar and poultry chicken (3% each), ragi (2%) and       egg, fish-marine, pork and bajra (1% each).  However, the price of urad (5%), masur and arhar (4% each), beef & buffalo meat and tea (3% each), gram and condiments & spices (2% each) and wheat, barley, coffee and moong (1% each) moved up.

The index for ‘Non-Food Articles’ group declined by 1.3 percent to 215.6 (provisional) from 218.5 (provisional) for the previous month due to lower price of raw silk (10%), copra (coconut) (8%), guar seed (7%), soyabean (6%), raw rubber and groundnut seed (3% each), sunflower and flowers (2% each) and castor seed and raw cotton (1% each).  However, the price of niger seed (27 %), safflower (kardi seed)  (10%), fodder (4%), rape & mustard seed and raw jute (2% each) and linseed and coir fibre (1 % each) moved up.

The index for ‘Minerals’ group rose by 3.0 percent to 255.9 (provisional) from 248.5 (provisional) for the previous month due to higher price of zinc concentrate (9%), crude petroleum (8%), magnesite (3%) and chromite (2%).  However, the price of sillimanite and copper ore (5% each), manganese ore (3%) and iron ore (2%) declined.

The index for this major group declined by 2.0 percent to 187.1 (provisional) from 191.0 (provisional) for the previous month due to lower price of  furnace oil (6%), aviation turbine fuel, high speed diesel and naphtha (4% each) and petrol (1%).

The index for this major group declined by 0.3 percent to 153.7 (provisional) from 154.2 (provisional) for the previous month. The groups and items for which the index showed variations during the month are as follows:-

The index for ‘Food Products’ group declined by 0.6 percent to 172.0 (provisional) from 173.1 (provisional) for the previous month due to lower price of copra oil, sugar and khandsari (4% each), tea dust (unblended) and vanaspati (3% each),     tea leaf (blended) and palm oil (2% each) and sunflower oil, rice bran oil, gram powder (besan), powder milk, tea dust (blended), soyabean oil and ghee (1% each).  However, the price of tea leaf (unblended) (8%), gingelly oil (7%), mustard & rapeseed oil and bakery products (3% each), groundnut oil and oil cakes (2% each) and sooji (rawa) and maida (1% each) moved up.

The index for ‘Beverages, Tobacco & Tobacco Products’ group declined by 0.3 percent to 206.1 (provisional) from 206.7 (provisional) for the previous month due to lower price of  zarda (3%), beer (2%) and dried tobacco (1%).

The index for ‘Textiles’ group rose by 0.2 percent to 141.2 (provisional) from 140.9 (provisional) for the previous month due to higher price of jute sacking cloth (4%), tyre cord fabric (3%) and cotton yarn, gunny and hessian cloth, cotton fabric,  man made fabric and jute sacking bag (1% each).  However, the price of jute yarn (2%) and man made fibre and woollen textiles (1% each) declined.

The index for ‘Wood & Wood Products’ group rose by 0.8 percent to 197.9 (provisional) from 196.3 (provisional) for the previous month due to higher price of  plywood & fibre board (2%).

The index for ‘Paper & Paper Products’ group rose by 0.5 percent to 153.6 (provisional) from 152.9 (provisional) for the previous month due to higher price of laminated paper (7%), newspaper and paper pulp (2% each) and corrugated sheet boxes (1%).  However, the price of paper rolls (2%) declined.

The index for ‘Leather & Leather Products’ group declined by 0.7 percent to 144.3 (provisional) from 145.3 (provisional) for the previous month due to lower price of leathers (2%) and leather footwear (1%).  However, the price of leather garments & jackets (2%) moved up.

The index for ‘Non-Metallic Mineral Products’ group declined by 0.9 percent to 174.2 (provisional) from 175.8 (provisional) for the previous month due to lower price of  grey cement (3%).  However, the price of marbles (8%), slag  cement (7%) and glass bottles & bottleware (1%) moved up.

"The index for ‘Basic Metals, Alloys & Metal Products’ group declined by 1.0 percent to 157.1 (provisional) from 158.7 (provisional) for the previous month due to lower price of sponge iron and rounds (3% each), gp/gc sheets, wire rods, HRC,     silver, plates, gold & gold ornaments and billets (2% each) and angles, rebars, pencil  ingots, joist & beams, pig iron, steel: pipes & tubes, brass, zinc, CRC and aluminium (1% each).  However, the price of ferro silicon (2%) and      nuts/bolts/screw/ washers (1%) moved up," read the statement.

The index for ‘Machinery & Machine Tools’ group rose by 0.1 percent to 135.2 (provisional) from 135.0 (provisional) for the previous month due to higher price of ball/roller bearing (4%), industrial  valves (2%) and electric motors, rubber machinery,  engines and conductor (1% each).  However, the price of insulators (3%), plastic machinery and battery dry cells (2% each) and pvc insulated cable and electrical wires (1% each) declined.

The index for ‘Transport, Equipment & Parts’ group rose by  0.1 percent to 137.8 (provisional) from 137.7 (provisional) for the previous month due to higher price of shafts (all kinds) (2%).