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ANALYSIS

Wholesale Price Index for all commodities for November 2017 up by 0.7%
Friday, 15 December, 2017, 08 : 00 AM [IST]
Our Bureau, New Delhi
The official Wholesale Price Index (WPI) for all commodities (using 2011-12=100 as the base) for the month of November, 2017 rose by 0.7 per cent to 116.3 (provisional) from 115.5 (provisional) for the previous month.

Inflation

The annual rate of inflation, based on monthly WPI, stood at 3.93 per cent (provisional) for the month of November, 2017 (over November, 2016) as compared to 3.59 per cent (provisional) for the previous month and 1.82 per cent during the corresponding month of the previous year.

Build up inflation rate in the financial year so far was 2.74 per cent compared to a build up rate of 3.90 per cent in the corresponding period of the previous year.

The inflation for important commodities/commodity groups is indicated in Annex-I and Annex-II.

The movement of the index for the various commodity groups is summarised below:

Primary articles (Weight 22.62 per cent)
The index for this major group rose by 1.6 per cent to 135.6 (provisional) from 133.4 (provisional) for the previous month.

The groups and items which showed variations during the month are as follows:

The index for the food articles group rose by 1.8 per cent to 150.6 (provisional) from 148 (provisional) for the previous month due to higher price of betel leaves (12 per cent), egg (11 per cent), fruits & vegetables (seven per cent) and fish-marine, beef and buffalo meat, pork,  condiments and spices and wheat (one per cent each).

However, the price of ragi and gram (seven per cent each), maize and jowar (four per cent each), urad and rajma (three per cent each), arhar, peas/chawali, masur, bajra and moong (two per cent each) and poultry chicken and barley (one per cent each) declined.

Manufactured products (Weight 64.23 per cent)

The index for this major group rose by 0.2 per cent to 113.9 (provisional) from 113.7 (provisional) for the previous month.

The groups and items which showed variations during the month are as follows:

The index for the manufacture of food products group declined by 0.3 per cent to 127.9 (provisional) from 128.3 (provisional) for the previous month due to lower price of molasses (13 per cent), gram powder (besan) (seven per cent), bagasse (six per cent), gur (five per cent),  manufacture of macaroni, noodles, couscous and similar farinaceous products and processing and preserving of fish, crustaceans and molluscs and products thereof (three per cent each), coffee powder with chicory, manufacture of health supplements, ice cream, instant coffee, ghee, rice, non-basmati and powder milk (two per cent each) and rice products, groundnut oil, buffalo meat, fresh/frozen, sooji (rawa), other meats, preserved/processed, cotton seed oil, manufacture of starches and starch products and processed tea (one per cent each).

However, the price of copra oil and spices (including mixed spices) (five per cent each), palm oil (three per cent), rice bran oil, luoresce and chicken/duck, dressed-fresh/frozen (two per cent each) and wheat flour (atta), wheat bran, mustard oil, sunflower oil and castor oil (one per cent each) moved up.

The index for the manufacture of beverages group rose by 0.4 per cent to 119.5 (provisional) from 119 (provisional) for the previous month due to higher price of spirits and aerated drinks/soft drinks (including soft drink concentrates) (one per cent each). However, the price of rectified spirit and bottled mineral water (one per cent each) declined.

WPI Food Index (Weight 24.38 per cent)
The rate of inflation based on WPI Food Index consisting of food articles from the primary articles group and food products from the manufactured products group increased from 3.23 per cent in October, 2017 to 4.10 per cent in November 2017.

Final index for the month of September 2017 (Base year: 2011-12=100)
For the month of September 2017, the final WPI for all commodities (Base: 2011-12=100) stood at 114.9 as compared to 114.3 (provisional), and the annual rate of inflation based on final index stood at 3.14 per cent as compared to 2.60 per cent (provisional), respectively as reported on October 16, 2017.

Annexure-I

Wholesale Price Index and Rates of Inflation (Base Year: 2011-12=100)






Month of November 2017


Commodities/major groups/groups/sub-groups

Weight

WPI November 2017

Latest month-over-month

Build-up from March

Year-on-year

2016-17

2017-18

2016-17

2017-18

2016-17

2017-18

All commodities

100

116.3

0.36

0.69

3.90

2.74

1.82

3.93

Primary articles

22.62

135.6

-0.23

1.65

4.72

6.69

1.34

5.28

Food articles

15.26

150.6

0.07

1.76

6.45

9.45

2.45

6.06

Cereals

2.82

142.4

1.96

-0.14

7.86

-1.93

9.89

-2.13

Paddy

1.43

149.2

-0.07

-0.27

7.25

1.02

6.93

2.90

Wheat

1.03

139.4

5.04

1.01

10.29

-2.45

13.86

-5.75

Pulses

0.64

138.4

1.85

-4.68

28.44

-10.13

18.97

-35.48

Vegetables

1.87

229

-2.32

14.27

20.42

93.41

-17.31

59.80

Potato

0.28

119.6

-6.01

-

51.50

31.28

32.59

-40.73

Onion

0.16

335.5

15.63

41.68

-9.46

203.35

-55.32

178.19

Fruits

1.60

141.6

-5.69

-5.47

3.42

1.65

5.51

4.19

Milk

4.44

139.9

-0.07

-0.07

2.28

2.49

3.38

3.86

Eggs, meat and fish

2.40

137.4

2.10

1.10

-2.89

2.38

0.85

4.73

Non-food articles

4.12

116.9

-1.92

-1.93

0.26

-4.10

-2.81

-0.68

Fibres

0.84

112.9

-2.35

-0.27

11.63

-9.61

16.01

0.53

Oilseeds

1.12

127.1

-2.59

-0.78

-2.44

-1.24

-9.80

-0.70

Manufactured products

64.23

113.9

0.18

0.18

2.02

1.42

2.02

2.61

Manufacture of food products

9.12

127.9

0.47

-0.31

8.71

0.47

11.18

0.47

Manufacture of vegetable and animal oils and fats

2.64

110.1

0.37

1.66

8.22

1.57

9.42

1.94

Sugar

1.06

129.9

0.48

-0.31

16.12

-0.61

32.98

4.25



Annexure-II















Trend of rate of inflation for some important items during last six months















Commodities/major groups/groups/sub-groups

Weight (per cent)

Rate of inflation for the last six months




Nov 2017

Oct 2017

Sep 2017

Aug 2017

July

2017

June

2017




All commodities

100

3.93

3.59

3.14

3.24

1.88

0.90




Primary articles

22.62

5.28

3.33

0.69

2.97

0.61

-4.17




Food articles

15.26

6.06

4.30

2.04

5.82

2.35

-3.33




Cereals

2.82

-2.13

-0.07

-0.07

0.21

0.56

1.93




Paddy

1.43

2.90

3.10

2.83

2.70

3.40

4.36




Wheat

1.03

-5.75

-1.99

-1.71

-1.44

-1.16

-0.29




Pulses

0.64

-35.48

-31.05

-24.26

-28.79

-31.39

-25.57




Vegetables

1.87

59.80

36.61

15.41

44.84

22.01

-21.22




Potato

0.28

-40.73

-44.29

-46.78

-43.95

-42.45

-47.50




Onion

0.16

178.19

127.04

79.78

88.46

-9.50

-9.47




Fruits

1.60

4.19

3.96

2.93

7.35

2.71

0.00




Milk

4.44

3.86

3.86

4.31

3.94

3.73

4.35




Eggs, meat and fish

2.40

4.73

5.76

5.47

4.01

3.68

2.22




Non-food articles

4.12

-0.68

-0.67

-2.60

-3.44

-6.09

-4.99




Oilseeds

1.12

-0.70

-2.51

-8.38

-11.18

-12.95

-12.48




Manufactured products

64.23

2.61

2.62

2.99

2.36

2.09

2.36




Manufacture of food products

9.12

0.47

1.26

1.99

1.92

2.01

3.42




Manufacture of vegetable and animal oils and fats

2.64

1.94

0.65

0.19

0.47

1.53

1.73




Sugar

1.06

4.25

5.08

7.38

8.53

8.95

10.88




 
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