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ANALYSIS

WPI for all commodities for October 2017 up by 1% to 115.5 from 114.3
Wednesday, 15 November, 2017, 08 : 00 AM [IST]
Our Bureau, New Delhi
The official Wholesale Price Index (WPI) for all commodities (with 2011-12 as the base year = 100) for the month of October 2017 rose by one per cent to 115.5 (provisional) from 114.3 (provisional) for the previous month.

Inflation
The annual rate of inflation, based on monthly WPI, stood at 3.59 per cent (provisional) for the month of October 2017 (over October 2016) as compared to 2.60 per cent (provisional) for the previous month and 1.27 per cent during the corresponding month of the previous year.

The build-up inflation rate in the financial year so far was 2.03 per cent compared to a build up rate of 3.53 per cent in the corresponding period of the previous year.

Inflation for important commodities/commodity groups is indicated in Annexure-I and Annexure-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 two per cent 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 the food articles group rose by 2.2 per cent to 148 (provisional) from 144.8 (provisional) for the previous month due to the higher prices of fruits and vegetables (nine per cent), tea (five per cent), poultry chicken (three per cent), eggs (two per cent) and condiments and spices, barley and paddy (one per cent each).

However, the price of betel leaves (nine per cent), ragi (seven per cent), gram and bajra (five per cent each), arhar (four per cent), masur and jowar (three per cent each), pork (two per cent) and moong, urad, rajma, maize and coffee (one per cent each) declined.

Manufactured products (Weight: 64.23 per cent)
The index for this major group rose by 0.3 per cent 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 the manufacture of food products group rose by 0.1 per cent to 128.3 (provisional) from 128.2 (provisional) for the previous month due to the higher prices of honey (six per cent), other meats, preserved/processed, processing and preserving of fish, crustaceans and molluscs and products thereof, instant coffee and coffee powder with chicory (three per cent each), mustard oil,  manufacture of cocoa, chocolate and sugar confectionery, manufacture of macaroni, noodles, couscous and similar farinaceous products and buffalo meat (fresh/frozen) (two per cent 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 and preservation of fruit and vegetables and palm oil (one per cent each).

However, the prices of molasses (seven per cent), copra oil (three per cent), rice products and manufacture of health supplements (two per cent each) and cotton seed oil, butter, castor oil, manufacture of prepared animal feeds, wheat bran, rapeseed oil, sugar and vanaspati (one per cent each) declined.

The index for the manufacture of beverages group declined by 0.9 per cent to 119 (provisional) from 120.1 (provisional) for the previous month due to lower price of bottled mineral water and aerated drinks/soft drinks (including soft drink concentrates) (two per cent each) and wine and spirits (one per cent each).

WPI Food Index (Weight: 24.38 per cent)
The rate of inflation, based on the WPI Food Index, consisting of food articles from the primary articles group and food products from the manufactured products group, increased from 1.99 per cent in September 2017 to 3.23 per cent in October 2017.
Final index for the month of August 2017 (with 2011-12 as the base year = 100)
For the month of August, 2017, the final Wholesale Price Index for all commodities (with 2011-12 as the base year =100) and the annual rate of inflation remained unchanged at their provisional levels of 114.8 and 3.24 per cent, respectively, as reported on September 14, 2017.

Annexure-I

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







Month of October, 2017


Commodities/major groups/groups/sub-groups

Weight

WPI October- 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

115.5

0.09

1.05

3.53

2.03

1.27

3.59

Primary articles

22.62

133.4

-1.15

1.99

4.96

4.96

2.14

3.33

Food articles

15.26

148

-

2.21

6.37

7.56

2.98

4.30

Cereals

2.82

142.6

0.07

0.07

5.78

-1.79

8.27

-0.07

Paddy

1.43

149.6

0.28

0.54

7.32

1.29

6.85

3.10

Wheat

1.03

138

0.57

0.29

5.00

-3.43

9.57

-1.99

Pulses

0.64

145.2

5.99

-3.52

26.11

-5.71

18.18

-31.05

Vegetables

1.87

200.4

1.38

19.93

23.28

69.26

-11.84

36.61

Potato

0.28

119.6

-6.57

-2.69

61.19

31.28

55.35

-44.29

Onion

0.16

236.8

-3.25

22.19

-21.70

114.10

-71.77

127.04

Fruits

1.60

149.8

-6.06

-5.13

9.67

7.54

6.43

3.96

Milk

4.44

140

0.15

-0.07

2.35

2.56

3.45

3.86

Eggs, meat and fish

2.40

135.9

0.47

0.74

-4.89

1.27

-0.08

5.76

Non-food articles

4.12

119.2

-2.44

-0.91

2.21

-2.21

-0.17

-0.67

Fibres

0.84

113.2

-3.60

-3.66

14.31

-9.37

20.04

-1.57

Oilseeds

1.12

128.1

-5.94

0.08

0.15

-0.47

-6.81

-2.51

Manufactured products

64.23

113.7

0.36

0.26

1.84

1.25

1.28

2.62

Manufacture of food products

9.12

128.3

0.64

0.08

8.20

0.79

10.08

1.26

Manufacture of vegetable and animal oils and fats

2.64

108.3

-

0.37

7.82

-0.09

8.58

0.65

Sugar

1.06

130.3

1.72

-0.46

15.56

-0.31

33.48

5.08


Annexure-II

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


Commodities/major groups/groups/sub-groups

Weight (%)

Rate of Inflation for the last six months

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

All commodities

100

3.59

2.60

3.24

1.88

0.90

2.26


Primary articles

22.62

3.33

0.15

2.97

0.61

-4.17

-1.71


Food articles

15.26

4.30

2.04

5.82

2.35

-3.33

-2.13


Cereals

2.82

-0.07

-0.07

0.21

0.56

1.93

4.15


Paddy

1.43

3.10

2.83

2.70

3.40

4.36

6.40


Wheat

1.03

-1.99

-1.71

-1.44

-1.16

-0.29

2.23


Pulses

0.64

-31.05

-24.26

-28.79

-31.39

-25.57

-19.67


Vegetables

1.87

36.61

15.48

44.84

22.01

-21.22

-18.37


Potato

0.28

-44.29

-46.52

-43.95

-42.45

-47.50

-43.84


Onion

0.16

127.04

79.78

88.46

-9.50

-9.47

-12.86


Fruits

1.60

3.96

2.93

7.35

2.71

-

-0.73


Milk

4.44

3.86

4.09

3.94

3.73

4.35

4.84


Eggs, meat and fish

2.40

5.76

5.47

4.01

3.68

2.22

-1.02


Non-food articles

4.12

-0.67

-2.20

-3.44

-6.09

-4.99

-0.91


Fibres

0.84

-1.57

-1.51

-3.17

-5.15

3

11.79


Oil seeds

1.12

-2.51

-8.38

-11.18

-12.95

-12.48

-10.22


Manufactured products

64.23

2.62

2.72

2.36

2.09

2.36

2.55


Manufacture of food products

9.12

1.26

1.83

1.92

2.01

3.42

4.53


Manufacture of vegetable and animal oils and fats

2.64

0.65

0.28

0.47

1.53

1.73

1.44


Sugar

1.06

5.08

7.38

8.53

8.95

10.88

12.40


 
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