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3:26 am - Tuesday January 23, 2018

WPI rises by 0.7 pc in November 2017

Agencies, New Delhi

The annual rate of inflation, based on monthly Wholesale Price Index (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.

According to the data released by the Ministry of Commerce and Industry on Thursday, 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 data shows that the index for this major group rose by 1.6 percent 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 ‘Food Articles’ group rose by 1.8 percent to 150.6 (provisional) from 148.0 (provisional) for the previous month due to higher price of betel leaves (12 per cent), egg (11 per cent), fruits & vegetables (7 per cent) and fish-marine, beef & buffalo meat, pork, condiments & spices and wheat (1 per cent each).

However, the price of ragi and gram (7 per cent each), maize and jowar (4 per cent each), urad and rajma (3 per cent each), arhar, peas/chawali, masur, bajra and moong (2 per cent each) and poultry chicken and barley (1 per cent each) declined.

The index for ‘Non-Food Articles’ group declined by 1.9 percent to 116.9 (provisional) from 119.2 (provisional) for the previous month due to lower price of tanning materials (35 per cent), fodder (10 per cent), raw rubber, raw silk and raw jute (4 per cent each), skins (raw), castor seed and soyabean (3 per cent each), mesta and coir fibre (2 per cent each) and safflower (kardi seed), guar seed and hides (raw) (1 per cent each).

However, the price of copra (coconut) (3 per cent), raw wool, floriculture, cotton seed and gingelly seed (2 per cent each) and rape & mustard seed and raw cotton (1 per cent each) moved up.

The index for ‘Minerals’ group rose by 7.0 percent to 129.3 (provisional) from 120.8 (provisional) for the previous month due to higher price of iron ore (14 per cent), copper concentrate (12 per cent), lead concentrate (4 per cent), zinc concentrate (3 per cent), manganese ore (2 per cent) and phosphorite (1 per cent).

However, the price of sillimanite (12 per cent) and bauxite (3 per cent) declined. The index for ‘Crude Petroleum & Natural Gas’ group rose by 6.7 percent to 74.5 (provisional) from 69.8 (provisional) for the previous month due to higher price of crude petroleum (10 per cent).

The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group declined by 0.2 percent to 110.4 (provisional) from 110.6 (provisional) for the previous month due to lower price of passenger vehicles, radiators & coolers and minibus/bus (1 per cent each).

However, the price of body (for commercial motor vehicles) (5 per cent) and chain, crankshaft, engine and shafts of all kinds (1 per cent each) moved up. The index for ‘Manufacture of Other Transport Equipment’ group rose by 0.9 percent to 110.8 (provisional) from 109.8 (provisional) for the previous month due to higher price of motor cycles (1 per cent).

However, the price of propellers & blades of boats/ships (1 per cent) declined. 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 3.23 per cent in October, 2017 to 4.10 per cent in November, 2017.

Posted in: Business

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