Index Numbers of Wholesale Price in India (Base: 2004-05=100), Review for the Month of March, 2015

Index Numbers of Wholesale Price in India (Base: 2004-05=100), Review for the Month of March, 2015

The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05 = 100) for the month of March, 2015 rose by 0.2 percent to 176.1 (provisional) from 175.8 (provisional) for the previous month.


INFLATION

The annual rate of inflation, based on monthly WPI, stood at -2.33% (provisional) for the month of March, 2015 (over March, 2014) as compared to -2.06% (provisional) for the previous month and 6.00% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was -2.33% compared to a build up rate of 6.00% in the corresponding period of the previous year.

Inflation for important commodities / commodity groups is indicated in Annex-1 and Annex-II.
The movement of the index for the various commodity groups is summarized below:-

PRIMARY ARTICLES (Weight 20.12%)

The index for this major group declined by 1.0 percent to 239.6 (provisional) from 241.9 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for ‘Food Articles’ group declined by 0.4 percent to 249.4 (provisional) from 250.5 (provisional) for the previous month due to lower price of tea and moong (6% each), coffee and egg (4% each), rice and pork (3% each), jowar and barley (2% each) and fish-marine, fruits & vegetables, condiments & spices and beef & buffalo meat (1% each). However, the price of arhar, poultry chicken, mutton, fish-inland and maize (3% each), ragi, bajra and gram (2% each) and masur and milk (1% each) moved up.

The index for ‘Non-Food Articles’ group declined by 1.8 percent to 202.2 (provisional) from 206.0 (provisional) for the previous month due to lower price of flowers (25%), fodder (7 %), gingelly seed, guar seed and castor seed (4% each), raw silk (3%), coir fibre (2%) and raw rubber, soyabean and linseed (1% each).  However, the price of niger seed (5%), sunflower (4%), groundnut seed and mesta (3% each) and copra (coconut) (2%) and raw cotton (1%) moved up.

The index for ‘Minerals’ group declined by 3.7 percent to 252.1 (provisional) from 261.7 (provisional) for the previous month due to lower price of zinc concentrate (11%), iron ore (9%), copper ore (7%), sillimanite and magnesite (3% each),      phosphorite and manganese ore (2% each) and steatite (1%).  However, the price of barytes (38%), chromite (5%) and      crude petroleum (1%) moved up.

FUEL & POWER (Weight 14.91%)

The index for this major group rose by 3.3 percent to 187.3 (provisional) from 181.3 (provisional) for the previous month due to higher price of aviation turbine fuel (10%), furnace oil (9%), high speed diesel (7%), petrol (6%), naphtha (4%) and      kerosene (1%).  However, the price of bitumen (6%) declined.

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group declined by 0.1 percent to 153.9 (provisional) from 154.1 (provisional) for the previous month. The groups and items for which the index showed variations during the month are as follows:-

The index for ‘Food Products’ group declined by 0.4 percent to 170.1 (provisional) from 170.7 (provisional) for the previous month due to lower price of tea leaf (blended) (8%), tea dust (unblended) (6%), tea leaf (unblended), wheat flour (atta), sugar confectionary,  sugar and khandsari (2% each) and gingelly oil, soyabean oil, powder milk, maida and cotton seed oil (1% each). However, the price of gram powder (besan) (9%), bakery products (4%), processed prawn, oil cakes and mixed spices (3% each) and copra oil, sunflower oil and groundnut oil (1% each) moved up.

The index for ‘Beverages, Tobacco & Tobacco Products’ group rose by 0.6 percent to 203.2 (provisional) from 201.9 (provisional) for the previous month due to higher price of soft drinks & carbonated water and cigarette (2% each).  However, the price of dried tobacco (3%) declined.

The index for ‘Textiles’ group declined by 0.2 percent to 139.9 (provisional) from 140.2 (provisional) for the previous month due to lower price of man made fabric (2%) and man made fibre, cotton yarn and tyre cord fabric (1% each).  However, the price of gunny and hessian cloth (2%) and cotton fabric, jute sacking cloth, jute sacking bag and jute yarn (1% each) moved up.

The index for ‘Wood & Wood Products’ group declined by 0.1 percent to 189.0 (provisional) from 189.1 (provisional) for the previous month due to lower price of processed wood (1%).

The index for ‘Paper & Paper Products’ group rose by 0.7 percent to 152.6 (provisional) from 151.5 (provisional) for the previous month due to higher price of kraft  paper & bags (6%) and newsprint, laminated paper and paper cartons / boxes (1 % each).  However, the price of newspaper (2%) declined.

The index for ‘Leather & Leather Products’ group declined by 0.8 percent to 142.0 (provisional) from 143.2 (provisional) for the previous month due to lower price of leather garments & jackets (3%) and leather footwear (1%).

The index for ‘Chemicals & Chemical Products’ group rose by 0.3 percent to 150.8 (provisional) from 150.4 (provisional) for the previous month due to higher price of shampoo and lacquer & varnishes (3% each), non-cyclic compound and basic organic chemicals (2% each) and urea, castor oil and antacid and  digestive preparations (1% each).  However, the price of      photographic goods and ayurvedic medicines (1% each) declined.

The index for ‘Non-Metallic Mineral Products’ group rose by 0.7 percent to 177.9 (provisional) from 176.7 (provisional) for the previous month due to higher price of grey cement and glass bottles & bottleware (2% each).  However, the price of      marbles (7%) and bricks & tiles and railway sleeper (1% each) declined.

The index for ‘Basic Metals, Alloys & Metal Products’ group declined by 0.7 percent to 162.4 (provisional) from 163.6 (provisional) for the previous month due to lower price of melting scrap (4%), pig iron and plates (3% each), sponge iron,     gp/gc sheets, CRC, ferro silicon, rounds and pipes/tubes/rods/strips (2% each) and wire rods, aluminium, HRC, gold & gold ornaments, angles, joist & beams, billets, silver and ferro chrome (1% each).  However, the price of steel castings and sheets (1% each) moved up.

The index for ‘Transport, Equipment & Parts’ group declined by 0.1 percent to 136.8 (provisional) from 137.0 (provisional) for the previous month due to lower price of motor cycle / scooter / moped (2%).

FINAL INDEX FOR THE MONTH OF JANUARY, 2015 (BASE YEAR: 2004-05=100)

For the month of  January, 2015, the final Wholesale Price Index for ‘All Commodities’(Base: 2004-05=100) stood at 177.3 as compared to 178.3 (provisional) and annual rate of inflation based on final index stood at -0.95 percent as compared to     -0.39 percent respectively as reported on 16.02.2015.

Next date of press release: 14/05/2015 for the month of April, 2015
Office of Economic Adviser, Ministry of Commerce & Industry, New Delhi,
This press release is available at our home page http://eaindustry.nic.in

Annexure-I
Wholesale Price Index and Rates of Inflation (Base Year: 2004-05=100)
Month of March, 2015

Annexure-II

Trend of Rate of Inflation for some important items during last six months

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Mineral Production during February 2015 (Provisional)

            The index of mineral production of mining and quarrying sector for the month of February (new Series 2004-05=100) 2015 at 130.7, was 2.5% higher as compared to February 2014. The cumulative growth for the period April- February 2014-15 over the corresponding period of previous year stands at (+) 1.5%.
The total value of mineral production (excluding atomic & minor minerals) in the country during February 2015 was Rs. 19785 crore. The contribution of: coal was the highest at Rs. 7865 crore (40%). Next in the order of importance were: petroleum (crude) Rs. 5226 crore, iron ore Rs. 2686 crore, natural gas (utilized) Rs. 2030 crore, lignite Rs. 561 crore and limestone Rs. 427 crore. These six minerals together contributed about 95% of the total value of mineral production in February 2015.
Production level of important minerals in February 2015 were: coal 583 lakh tonnes, lignite 47 lakh tonnes, natural gas (utilized) 2455 million cu. m., petroleum (crude) 29 lakh tonnes, bauxite 1651 thousand tonnes, chromite 241 thousand tonnes, copper conc. 9 thousand tonnes, gold 135 kg., iron ore 122 lakh tonnes, lead conc. 19 thousand tonnes, manganese ore 171 thousand tonnes, zinc conc. 138 thousand tonnes, apatite & phosphorite 100 thousand tonnes, dolomite 494 thousand tonnes, limestone 234 lakh tonnes, magnesite 23 thousand tonnes and diamond 2946 carat.
            The production of important minerals showing positive growth during February 2015 over February 2014 include ‘magnesite’ (55.9%), ‘zinc conc.’ (47.0%), ‘lead conc.’ (21.1%), ‘lignite’ (18.8%) and ‘coal’ (11.6%). The production of other important minerals showing negative growth are: ‘limestone.’ [(-) 1.5%], ‘petroleum (crude)’ [(-)1.9%], ‘bauxite’ [(-) 4.2%], ‘diamond’ [(-) 7.9%], ‘natural gas (utilized)’ [(-) 8.2%], ‘apatite & phosphorite’ [(-) 11.7%], ‘iron ore’ [(-) 13.4%], ‘gold’ [(-) 14.6%], ‘copper conc.’ [(-) 21.1%], ‘chromite’ [(-) 24.9%], ‘manganese ore’ [(-) 27.1%] and ‘dolomite’[(-) 28.2%].