The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of March, 2017 declined by 0.1 percent to 185.3 (provisional) from 185.5 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 5.70% (provisional) for the month of March, 2017 (over March, 2016) as compared to 6.55% (provisional) for the previous month and -0.45% during the corresponding month of the previous year.  Build up inflation rate in the financial year so far was 5.70% compared to a build up rate of -0.45% 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 0.2 percent to 257.5 (provisional) from 258.1 (provisional) for the previous month.  The groups and items which showed variations during the month are as follows:-

The index for ‘Food Articles’ group marginally increased to 267.6 (provisional) from 267.5 (provisional) for the previous month due to higher price of fruits & vegetables and ragi (5% each), bajra (2%) and egg, fish-marine and rice (1% each).  However, the price of gram (11%), condiments & spices (7%), arhar (6%), urad (5%), jowar (4%), wheat (4%), barley    (3%), masur (2%) and maize and moong (1% each) declined.

The index for ‘Non-Food Articles’ group declined by 1.8 percent to 230.6 (provisional) from 234.8 (provisional) for the previous month due to lower price of flowers (22%), linseed (8%), rape & mustard seed (7%), raw rubber and fodder (5% each), copra (coconut) (4%), gingelly seed and soyabean (3% each) and sunflower and skins(raw) (2% each).  However, the price of guar seed (16%), castor seed (13%), safflower (kardi seed) (11%), groundnut seed (5%), mesta (3%), raw silk and coir fibre (2% each) and raw cotton (1%) moved up.

The index for ‘Minerals’ group rose by 1.5 percent to 238.3 (provisional) from 234.8  (provisional) for the previous month due to higher price of manganese ore (20%), chromite (7%), copper ore (4%), iron ore (3%) and zinc concentrate and sillimanite (1% each).  However, the price of magnesite (15%) and phosphorite (8%) declined.

FUEL & POWER (Weight 14.91%)

The index for this major group declined by 0.1 percent to 203.7 (provisional) from 203.8 (provisional) for the previous month due to lower price of bitumen (2%) and furnace oil (1%).  However, the price of LPG (2%) and aviation turbine fuel (1%) moved up.

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group declined by 0.1 percent to 158.7 (provisional) from 158.8 (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 1.2 percent to 192.1 (provisional) from 194.5 (provisional) for the previous month due to lower price of tea leaf (blended) (8%), wheat flour (atta) and processed prawn (7% each), maida and copra oil (6% each), coffee powder, sooji (rawa) and tea leaf (unblended) (5% each), cotton seed oil (4%), gola (cattle feed) (3%), rice bran oil and mustard & rapeseed oil (2% each) and sunflower oil, tea dust (unblended), tea dust (blended) and mixed spices (1% each).  However, the price of powder milk (2%) and ghee, gur, gingelly oil and groundnut oil (1 % each) moved up.

The index for ‘Beverages, Tobacco & Tobacco Products’ group rose by 0.1 percent to 221.7 (provisional) from 221.5 (provisional) for the previous month due to higher price of dried tobacco (2%).

The index for ‘Textiles’ group rose by 0.2 percent to 142.9 (provisional) from 142.6 (provisional) for the previous month due to higher price of tyre cord fabric (5%) and gunny and hessian cloth, man made fibre, jute yarn and cotton fabric (1 % each).

The index for ‘Wood & Wood Products’ group rose by 0.7 percent to 193.2 (provisional) from 191.8 (provisional) for the previous month due to higher price of plywood & fibre board (1%).

The index for ‘Paper & Paper Products’ group rose by 0.7 percent to 158.8 (provisional) from 157.7 (provisional) for the previous month due to higher price of paper rolls (6%), kraft  paper & bags (3%), paper cartons / boxes (2%) and      printing and writing paper (1% each).  However, the price of card board (2%) declined.

The index for ‘Leather & Leather Products ‘ group rose by 0.1 percent to 145.3 (provisional) from 145.1 (provisional) for the previous month due to higher price of leather handbags/wallets (1%).

The index for ‘Rubber & Plastic Products’ group rose by 1.0 percent to 150.4 (provisional) from 148.9 (provisional) for the previous month due to higher price of  rubber products, plastic products and tyres (1% each).

The index for ‘Chemicals & Chemical Products’ group rose by 0.5 percent to 152.3 (provisional) from 151.5 (provisional) for the previous month due to higher price of non-cyclic compound (6%), synthetic resin, adhesive &  gum and basic organic chemicals (2% each) and washing soap, vitamins and ayurvedic medicines (1% each).  However, the price of      safety matches/ match box (2%) and photographic goods and pesticides (1% each) declined.

The index for ‘Non-Metallic Mineral Products’ group declined by 0.6 percent to 177.7 (provisional) from 178.8 (provisional) for the previous month due to lower price of grey cement (2%) and white cement (1%). However, the price of marbles (2%) moved up.

The index for ‘Basic Metals, Alloys & Metal Products’ group rose by 0.1 percent to 160.5 (provisional) from 160.4 (provisional) for the previous month due to higher price of pig iron (4%), rounds (3%), pencil  ingots and steel rods (2% each) and lead, sheets, melting scrap and rebars (1% each).  However, the price of ferro chrome (6 %), billets, steel: pipes & tubes, steel castings, sponge iron and HRC (2% each) and furniture, silver, CRC and iron castings (1% each) declined.

The index for ‘Machinery & Machine Tools’ group declined by 0.1 percent to 135.3 (provisional) from 135.4 (provisional) for the previous month due to lower price of heating elements and conductor (3% each) and textile machinery,     ball/roller bearing and heat exchanger (1% each).  However, the price of electronic pcb /micro circuit (2%) and electric motor starters, lamps, electric switches and electric switch gears (1% each) moved up.

The index for ‘Transport, Equipment & Parts’ group rose by 0.2 percent to 140.8 (provisional) from 140.5 (provisional) for the previous month due to higher price of motor vehicles (1%).

FINAL INDEX FOR THE MONTH OF JANUARY, 2017 (BASE YEAR: 2004-05=100)

For the month of  January, 2017, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 185.1 as compared to 184.6 (provisional) and annual rate of inflation based on final index stood at 5.53 percent as compared to 5.25 percent (provisional) respectively as reported on 14.02.2017.

Next date of press release: 15/05/2017 for the month of April, 2017

Office of Economic Adviser, Ministry of Commerce & Industry, New Delhi,

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

Annexure-I

Wholesale Price Index and Rates of Inflation (Base Year: 2004-05=100)

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MJPS