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
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