Tuesday, 16 April 2019

Wholesale Price Index for ‘All Commodities’ for the month of March, 2019

Based on monthly  WPI, the annual rate of inflation, stood at 3.18%  (provisional) for the month of March 2019(over March 2018)  as compared to 2.93%  (provisional) for the month of February 2019  and 2.74%  during  March 2018 previous year.  The buildup inflation rate in the financial year so far was 3.18%as compared to a buildup rate of 2.74%in the corresponding period of the previous year.

Primary articles: The  index  for ‘Food  Articles group rose  by  0.9  percent  to  145.1  (provisional)  from  143.8  (provisional)  for  the  previous month  due  to  higher  price  of  peas/Chawla  (7%),  fruits  &  vegetables  (6%),  maize and jowar  (3%each),  bajra  (2%)and Masur  (1%). However, three was a decline in the price of fish-marine (6%),  egg  (5%),  gram  (3%),  mutton,  urad and condiments  & spices (2%each)and rajma, ragi, wheat, arhar and poultry chicken  (1%each).

The  index  for ‘Non-Food  Articles group declined  by  2.6  percent  to  123.5  (provisional)  from  126.8  (provisional)  for  the previous  month  due  to  lower  price of  industrial  wood  (16%),  raw  silk  (7%),  sunflower  (4%),  rape  &  mustard  seed  (3%), gingelly  seed and safflower  (kardi  seed)  (2%each)and soyabean,  floriculture,  copra  (coconut) and coir  fibre  (1%each). However, there was appreciation in the price of niger seed (15%), raw rubber and raw cotton (4%each), raw wool (2%)and groundnut seed, fodder, castor seed, mesta, raw jute, linseed and hides (raw) (1%each).

Minerals: The index declined  by  1.9 percent to 136.7  (provisional)  from  139.3  (provisional)  for the previous month due to lower price of manganese ore and iron ore (8%each), sillimanite (7%), limestone and chromite (2%each)and lead concentrate and zinc concentrate (1%each). However, the price of garnet (12%)and copper concentrate (1%) increased.

Crude  Petroleum  &  Natural  Gas: The index rose by 3.3 percent to 87.6 (provisional) from 84.8 (provisional) for the previous month due to higher price of crude petroleum (6%).  However, the price of natural gas (2%) declined. The index rose by 2.3percent  to  103.3(provisional)  from 101.0(provisional) for the previous month. 

Mineral  Oils: The index rose  by  4.1  percent  to  95.0(provisional)  from  91.3  (provisional)  for  the  previous month  due  to  higher  price  of ATF,  naphtha and furnace  oil (9%each), LPG(6%), kerosene (5%), petrol (4%), petroleum coke (3%), HSD(2%)and bitumen (1%). The rose by 0.2 percent to 118.3  (provisional)  from 118.1 (provisional) for the previous month.

Manufacture of  Food  Products: The  index declined  by  0.2  percent  to  128.5  (provisional)  from  128.7 (provisional)  for  the  previous  month  due  to  lower  price  of  manufacture  of  macaroni,  noodles,  couscous &similar farinaceous products (5%), copra oil  (4%), processing &preserving of fish,crustaceans &molluscs&products thereof and rice  bran  oil  (3%each),  processing &preserving  of  fruit &vegetables and palm  oil  (2%each)and cottonseed  oil,  sooji (rawa),  soyabean  oil,  gram  powder  (besan),  buffalo  meat [fresh/frozen],  spices  (including  mixed  spices),  salt,  vanaspati, mustard  oil,  sunflower  oil,  manufacture  of  cocoa,  chocolate &sugar  confectionery,  ghee and maida  (1%each). However, there were certain items which moved up as the  price  of  molasses  (13%),  groundnut oil (10%), honey (4%), processed tea, condensed milk and manufacture of starches and  starch  products  (3%each),  coffee  powder  with  chicory,  castor  oil, instant coffee, chicken/duck [dressed-fresh/frozen]and manufacture of health supplements (2%each)and manufacture of prepared animal feeds, bagasse, gur, manufacture of processed ready to eat food, manufacture of bakery products and wheat bran (1%each).


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 3.29% in February, 2019as compared to 3.89% in March 2019.

Latin Manharlal Group
Image Courtesy: Google