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2:25 pm - Thursday February 22, 2018

WPI inflation eases to 3.58pc in Dec, 2017

Agencies, New Delhi

The annual rate of inflation, based on monthly Wholesale Price Index for (WPI), stood at 3.58 per cent (provisional) for December, 2017 (over December, 2016) as compared to 3.93 per cent (provisional) for the previous month and 2.10 per cent during the corresponding month of the previous year.

According to the data released by Ministry of Commerce and Industry, build up inflation rate in the financial year so far was 2.21 per cent compared to a build up rate of 3.71 per cent in the corresponding period of the previous year.

The official Wholesale Price Index for ‘All Commodities’ for December, 2017 declined by 0.5 percent to 115.7 (provisional) from 116.3 (provisional) for the previous month.

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 4.10 per cent in November, 2017 to 2.91 per cent in December, 2017.

The index for ‘Food Articles’ group declined by 4.3 per cent to 144.1 (provisional) from 150.6 (provisional) for the previous month due to lower price of fruits & vegetables (14 per cent), peas/chawali (6 per cent), gram and egg (5 per cent each), rajma and poultry chicken (4 per cent each), coffee and fish-inland (3 per cent each), urad and tea (2 per cent each) and maize and masur (1 per cent each). However, the price of betel leaves (16 per cent), bajra (3 per cent), jowar, barley and condiments & spices (2 per cent each) and arhar, moong and pork (1 per cent each) moved up.

The index for ‘Non-Food Articles’ group rose by 1.8 percent to 119.0 (provisional) from 116.9 (provisional) for the previous month due to higher price of floriculture (19 per cent), copra (coconut) (8 per cent), raw silk, gingelly seed and guar seed (7 per cent each), raw cotton (6 per cent), raw wool and raw rubber (4 per cent each), hides (raw) and soyabean (3 per cent each), cotton seed, rape & mustard seed and castor seed (2 per cent each) and raw jute, skins (raw), sunflower and coir fibre (1 per cent each).

However, the price of mesta and fodder (8 per cent each), groundnut seed (3 per cent), safflower (kardi seed) (2 per cent) and niger seed and linseed (1 per cent each) declined.

The index for ‘Minerals’ group declined by 5.4 percent to 122.3 (provisional) from 129.3 (provisional) for the previous month due to lower price of copper concentrate (14 per cent), lead concentrate and zinc concentrate (7 per cent each).

However, the price of chromite (9 per cent), manganese ore (6 per cent), bauxite (3 per cent) and phosphorite (1 per cent) moved up.

The index for ‘Crude Petroleum & Natural Gas’ group rose by 4.8 percent to 78.1 (provisional) from 74.5 (provisional) for the previous month due to higher price of crude petroleum (7 per cent).However, the price of natural gas (1 per cent) declined.

Posted in: Business

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