Source: News Bharati English14 Feb 2017 16:42:11

New Delhi, February 14: India’s annual rate of Inflation based on monthly Wholesale Price Index, stood at 5.25% for the month of January 2017 as compared to 3.39% reported for December 2016. Notably, the wholesale prices in India accelerated to their highest levels in two and a half years in January driven mainly by costlier fuel, government data showed Tuesday.
The wholesale price index rose 5.25% from a year earlier, the highest level since June 2014 and sharply quicker than the 3.39% increase in December.Rising prices of commodities, particularly crude oil, are driving up wholesale prices in India.

The data show fuel prices climbed 18.1% from a year earlier in January and were up 4.7% from December. India imports about 80% of its energy needs, making it vulnerable to changes in global prices.

PRIMARY ARTICLES (Weight 20.12%)

The index for this major group declined by 0.2 percent to 255.7 from 256.3 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 1.1 percent to 267.2 (provisional) from 270.1 (provisional) for the previous month due to lower price of arhar (15%), gram (14%), masur (7%), urad (6%), moong (4%), egg (3%),  fruits & vegetables (2%) and tea, rice, bajra and wheat (1% each).  However, the price of jowar (5%), ragi and poultry chicken  (4 % each), fish-inland and condiments & spices (2% each) and maize, pork, fish-marine and beef & buffalo meat (1% each) moved up.

The index for 'Non-Food Articles' group rose by 2.5 percent to 231.3 (provisional) from 225.6 (provisional) for the previous month due to higher price of flowers (23%),  raw rubber (10%), copra (coconut) and raw cotton (7% each), raw silk (6%), sunflower (5%), castor seed and safflower (kardi seed) (3% each) and soyabean (2%).  However, the price of mesta (19 %), gingelly seed (4%), cotton seed (3%), linseed, coir fibre, rape & mustard seed and niger seed (2% each) and raw wool and hides(raw) (1% each) declined.

The index for  Minerals' group rose by 1.0 percent to 215.5 (provisional) from 213.3 (provisional) for the previous month due to higher price of manganese ore (16%), copper ore and magnesite (14% each), iron ore (4%), sillimanite and phosphorite (2% each) and chromite (1%).  However, the price of crude petroleum (4%) declined.

FUEL and POWER (Weight 14.91%)

The index for this major group rose by 4.7 percent to 201.2 (provisional) from 192.1 (provisional) for the previous month due to higher price of coking coal (84%), aviation turbine fuel (10%), furnace oil (8%), high speed diesel and petrol (5 % each), bitumen (3%) and kerosene (2%).

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group rose by 0.5 percent to 158.8 (provisional) from 158.0 (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 rose by 0.4 percent to 194.5 (provisional) from 193.7 (provisional) for the previous month due to higher price of maida and coffee powder (6% each), soyabean oil (4%), rice bran oil, processed prawn and gur (2% each) and copra oil, khandsari, wheat flour (atta), sugar, ghee and palm oil (1% each).  However, the price of tea leaf (blended) (5%),  tea dust (unblended)  and oil cakes (3% each), powder milk and gola (cattle feed) (2% each) and mixed spices and mustard & rapeseed oil (1% each) declined.

The index for ' Textiles ' group rose by 0.5 percent to 142.3 (provisional) from 141.6 (provisional) for the previous month due to higher price of gunny and hessian cloth (4%), cotton yarn and jute sacking cloth (2% each) and tyre cord fabric and man-made fabric (1% each).  However, the price of jute sacking bag (1%) declined.

The index for 'Wood & Wood Products' group declined by  0.6 percent to 192.6 (provisional) from 193.7 (provisional) for the previous month due to the lower price of timber / wooden planks (3%).

The index for 'Paper & Paper Products' group rose by 0.4 percent to 157.7 from 157.0 (provisional) for the previous month due to the higher price of newspaper (5%).

The index for 'Leather & Leather Products' group declined by 0.4 percent to 145.5 from 146.1 for the previous month due to the lower price of leather garments & jackets (2%) and leathers (1%).

The index for 'Rubber & Plastic Products' group rose by 0.1 percent to 148.6 (provisional) from 148.4 (provisional) for the previous month due to higher price of expandable polystyrene (3%), polyester film and hdpe bag (2% each) and plastic/pvc shoes and hdpe  woven fabric (1% each).  However, the prices of the plastic cabinet (3%), plastic components / accessories (2%) and plastic/ldpe/polythene bag and hdpe woven sacks and other rubber products (1% each) declined.

The index for 'Chemicals & Chemical Products' group rose by 0.1 percent to 150.9 (provisional) from 150.7 (provisional) for the previous month due to the higher price of  basic organic chemicals (2%) and vaccines and photographic goods (1% each).  However, the price of synthetic resin (5%), hair / body oils (2%) and di ammonium phosphate, adhesive and gum and antibiotics (1% each) declined.

The index for 'Non-Metallic Mineral Products' group declined by 0.4 percent to 178.6 (provisional) from 179.3 (provisional) for the previous month due to the lower price of marbles (5%) and polished granite (1%).  However, the price of railway sleeper and asbestos corrugated sheet (1% each) moved up.

The index for 'Basic Metals, Alloys & Metal Products' group rose by 2.3 percent to 161.2 (provisional) from 157.6 (provisional) for the previous month due to higher price of billets (11%), ferrochrome (9%), pipes/tubes/rods/strips (7 %), pig iron (6%), wire rods (5%), plates, gp/gc sheets, HRC, pencil  ingots and melting scrap (4% each), sponge iron, lead, angles, rebars, CRC, zinc and steel structures (3% each), gold & gold ornaments and joist & beams (2% each) and utensils(other than aluminium), rounds, metal containers, steel: pipes & tubes, sheets and silver (1% each).  However, the price of the pressure cooker (1%) declined.

The index for 'Machinery & Machine Tools' group declined by 0.1 percent to 135.4 (provisional) from 135.5 (provisional) for the previous month due to the lower price of machine tools (3%), pump & assembly (2%) and fibre optic cable (1%). However, the price of fluorescent tubes (2%) and conductor, computer peripherals, ball/roller bearing, lamps and earth moving machinery (1%) moved up.

The index for 'Transport, Equipment & Parts' group declined by 0.1 percent to 139.8 (provisional) from 140.0 (provisional) for the previous month due to the lower price of tractors (2%).