India’s wholesale price inflation edges up to 0.58% in November

Build-up of inflation so far during the financial year stood at 2.00 per cent compared to a build-up rate of 4.56 per cent in the corresponding period of the previous year.

The official wholesale price index for 'all commodities' (Base: 2011-12=100) stood at 4.47 per cent during the corresponding month of the previous year. 

Inflation rate for the `primary articles’ group, which has a weight of 22.62  per cent in the wholesale price index, rose 0.9 per cent in November 2019.

Among primary articles,  inflation rate for the 'food articles' group rose 1.4 per cent in November 2019 due to higher prices of urad, moong, rajma, bajra, gram, arhar, masur, wheat, jowar, egg, condiments and spices, fruits and vegetables, poultry chicken, fish and pork. However, the price of maize, tea, ragi and beef and buffalo meat and betel leaves declined by 1 per cent, each.

Inflation rate for the 'non-food articles' group rose 0.6 per cent in November 2019 due to higher prices of floriculture, raw rubber, gaur seed, hides (raw), raw jute, linseed, rape and mustard seed, fodder, gingelly seed (sesamum), safflower (kardi seed), soyabean and niger seed. However, the prices of raw silk, groundnut seed, castor seed and cotton seed, raw cotton and coir fibre and copra declined.

Inflation rate for the 'minerals' group declined by 2.3 per cent in November 2019 due to lower prices of iron ore, manganese ore, limestone, copper concentrate and chromite. However, the prices of lead concentrate and zinc concentrate moved up.

Inflation rate for the 'crude petroleum and natural gas' group declined by 3.1 per cent due to lower price of crude petroleum. However, the price of natural gas moved up.

Inflation rate for `fuel and power’ group, which has a weight of 13.15 per cent in the wholesale price index, declined by 0.8 per cent in November 2019.

Within the fuel and power group, inflation for the 'mineral oils' group declined by 1.5 per cent due to lower prices of furnace oil, ATF, HSD and bitumen. However, the prices of LPG, naphtha and kerosene moved up.

Inflation rate for the `manufactured products’ group, which has a weight of 64.23 per cent in the wholesale price index, declined by 0.1 per cent in November 2019.

Within the manufactured products group, inflation for the food products group rose 0.6 per cent due to higher prices of bagasse, coffee powder with chicory, palm oil, molasses, mustard oil, vanaspati, honey, ice cream, powder milk, wheat bran and spices (including mixed spices), processed tea, sunflower oil, rice bran oil, soyabean oil, cotton seed oil, instant coffee, butter, processed and preserved fruits and vegetables, gram powder (besan), basmati rice, bakery products and sooji (rawa ). However, the prices of gur, macaroni, noodles, couscous and similar farinaceous products, other meats, preserved/processed and rice products cocoa, chocolate and sugar confectionery starches and starch products, copra oil, prepared animal feeds, buffalo meat, fresh/frozen and sugar declined.

Inflation rate for the 'beverages' group rose 0.3 per cent due to higher prices of aerated drinks/soft drinks (incl. soft drink concentrates) and rectified spirit. However, the prices of beer and bottled mineral water declined.

Inflation rate for the 'tobacco products' group declined by 1.3 per cent due to lower prices of cigarette and other tobacco products. However, the price of biri  moved up.

Inflation rate for the 'textiles' group declined by 0.5 per cent due to lower prices of synthetic yarn, texturised and twisted yarn, viscose yarn and cotton yarn. However, the prices of manufacture of cordage, rope, twine and netting moved up.

Inflation for the 'wearing apparel' group rose 0.4 per cent due to higher prices of manufacture of wearing apparel, except fur apparel.

Inflation rate for the 'leather and related products' group rose 0.1 per cent due to higher prices of chrome tanned leather, canvas shoes, travel goods, handbags, office bags, etc. However, the prices of vegetable tanned leather, belt and other articles of leather and athletic/sport shoes and waterproof footwear declined.

Inflation rate for the 'wood and of products of wood and cork ' group declined by 0.5 per cent due to lower prices of timber/wooden plank, sawn/resawn, wood cutting, processed/sized, wooden box/crate, lamination and wooden sheets/veneer sheets. However, the price of wooden board (non-electrical) moved up.

Inflation rate for the 'paper and paper products' group declined by 0.5 per cent due to lower prices of hard board, paper carton/box, card board and newsprint, pulp board, paper for printing and writing, laminated paper and corrugated paper board. However, the prices of tissue paper, poster paper, base paper and bristle paper board moved up.

Inflation rate for the 'printing and reproduction of recorded media ' group declined by 0.6 per cent due to lower prices of journal/periodical and hologram, printed form and schedule and sticker plastic.

Inflation rate for the 'chemicals and chemical products' group declined by 0.5 per cent due to lower prices of camphor, organic surface active agent and caustic soda (sodium hydroxide), carbon black, plasticizer, phthalic anhydride, organic solvent, nitric acid, alkyl benzene, tooth paste/tooth powder, varnish (all types), soda ash/washing soda, mono ethyl glycol, ammonia liquid, sulphuric acid, additive and dye stuff/dyes (incl dye intermediates and pigments/colours) and polyester fibre fabric, poly vinyl chloride (PVC), ammonium nitrate, ethylene oxide, other inorganic chemicals, poly propylene (PP), rubber chemicals, foundry chemical, toilet soap, shampoo, polyethylene, XLPE compound, explosive, adhesive excluding gum, insecticide and pesticide, polyester chips or polyethylene terepthalate (PET) chips, viscose staple fibre, paint, detergent cake, washing soap cake/bar/powder, sodium silicate and phosphoric acid (1 per cent each). However, the prices of hydrogen peroxide, gelatine, catalysts, fatty acid and mixed fertilizer, ammonia gas, adhesive tape (non-medicinal), alcohols, menthol, agro chemical formulation, ammonium sulphate, amine, oleoresin and aromatic chemicals (1 per cent each) moved up.

Inlation for the 'pharmaceuticals, medicinal chemical and botanical products' group rose 0.6 per cent due to higher prices of plastic capsules, API and formulations of vitamins, antibiotics and preparations thereof, antioxidants and anti-diabetic drug excluding insulin (1% each). However, the prices of anti-cancer drugs and anti-retroviral drugs for HIV treatment, simvastatin and anti-inflammatory preparation and antipyretic analgesic, anti-inflammatory formulations, vials/ampoule, glass, empty or filled and anti-allergic drugs declined.

Inflation rate for the 'rubber and plastics products' group declined by 0.6 per cent due to lower prices of condoms, plastic furniture, motor car tube, processed rubber and tractor tyre and rubber cloth/sheet, medium & andeavy commercial vehicle tyre, rubber moulded goods, plastic tube (flexible/non-flexible), plastic box/container, plastic film, elastic webbing, plastic components, polypropylene film, 2/3 wheeler tyre, rubber components and parts, cycle/cycle rickshaw tyre, solid rubber tyres/wheels, plastic bag and plastic tape. However, the prices of polyester film (non-metalized), conveyer belt (fibre based), rubber tread, rubber crumb and plastic bottle moved up.

Inflation rate for the 'other non-metallic mineral products' group declined by 0.3 per cent due to lower prices of cement superfine, porcelain sanitary ware and stone, chip, granite, clinker, fibre glass (incl. Sheet), ceramic tiles (vitrified tiles) and plain bricks. However, the price of non-ceramic tiles, ordinary portland cement, railway sleeper, porcelain crockery, marble slab and toughened glass moved up.

Inflation rate for the 'basic metals' group declined by 0.3 per cent due to lower prices of alloy steel castings, MS wire rods, MS castings and ferromanganese, aluminium powder, GP/GC sheet, aluminium castings, angles, channels, sections, steel (coated/not), aluminium alloys, stainless steel tubes, cold rolled (CR) coils and sheets, including narrow strip, hot rolled (HR) coils and sheets, including narrow strip, silicomanganese, MS pencil ingots, alumnium foil, stainless steel coils, strips and sheets, mild steel (MS) blooms, MS bright bars, other ferro alloys and galvanised iron pipes. However, the prices of rails, steel cables, aluminium disk and circles, stainless steel pencil ingots/billets/slabs, steel forgings - rough, sponge iron/direct reduced iron (DRI), ferrochrome and copper metal/copper rings, aluminium shapes - bars/rods/flats, brass metal/sheet/coils and alloy steel wire rods moved up.

Inflation rate for the 'fabricated metal products, except machinery and equipment' group rose 0.4 per cent due to higher prices of aluminium utensils, hand tools, forged steel rings, jigs & fixture, bolts, screws, nuts, nails of iron & steel, cylinders, steel pipes, tubes & poles and metal cutting tools and accessories. However, the prices of sanitary fittings of iron and steel, iron/steel hinges, electrical stamping- laminated or otherwise, steel drums and barrels and copper bolts, screws, nuts, bracket, iron/steel cap, pressure cooker, stainless steel tank and steel container declined.

Inflation rate for the 'computer, electronic and optical products' group declined by 0.3 per cent due to lower prices of colour TV and electronic printed circuit board (PCB)/micro circuit. However, the prices of watch, scientific time keeping devices, capacitors, telephone sets (including mobile handsets), electro-diagnostic apparatus, used in medical, surgical, dental or veterinary sciences and air conditioner moved up.

Inflation rate for the 'electrical equipment' group declined by 0.3 per cent due to lower prices of insulator and air coolers, domestic gas stove, fibre optic cables, ACSR conductors and electrical resistors (except heating resistors), electric switch, washing machines/laundry machines, electric accumulators, jelly filled cable, fan and copper wire. However, the prices of PVC insulated cable, rotor/magneto rotor assembly and solenoid valve, insulating and flexible wire, connector / plug / socket / holder-electric, electric welding machine, transformer, electric switch gear control/starter, safety fuse, AC motor  and aluminium/alloy conductor moved up.

Inflation rate for the 'machinery and equipment' group declined by 0.2 per cent due to lower prices of dumper, packing machine, roller and ball bearings, bearings, gears, gearing, driving elements, chillers, water purifier, cranes, air gas compressor (including compressor) for refrigerator, mining, quarrying and metallurgical machinery/parts, gasket kit and agricultural tractors. However, the prices of pressure vessel and tank for fermentation and other food processing, chemical equipment and system, harvesters, moulding machine, agriculture implements, hydraulic pump, deep freezers, filtration equipment and centrifugal pumps moved up.

Inflation rate for the 'motor vehicles, trailers and semi-trailers' group rose 1.0 per cent due to higher prices of engine, seat for motor vehicles, brake pad/brake liner/brake block/brake rubber, others and radiators and coolers, gear box and parts, cylinder liners, shafts of all kinds and steering gear control system. However, the prices of axles of motor vehicles and wheels/wheels and parts and head lamp and crankshaft declined.

Inflation rate for the 'other transport equipment' group rose 0.3 per cent due to higher price of scooters and tanker.

Inflation rate for the 'furniture' group rose 0.3 per cent due to higher prices of foam and rubber mattress and hospital furniture. However, the price of wooden furniture declined.

Inflation rate for the 'other manufacturing' group declined by 2.7 per cent due to lower price of gold and gold ornaments and silver and cricket bat. However, the price of stringed musical instruments (incl. santoor, guitars, etc), sports goods of rubber (incl. balls), cricket ball, playing cards, football and carrom board moved up.

The rate of inflation, based on the WPI food index consisting of ‘food articles’ from the primary articles group and ‘food product’ from the manufactured products group and has a weight of 24.36 per cent in the WPI Index, increased to 9.02 per cent in November 2019 from 7.65 per cent in October 2019.

The final wholesale price inflation for September 2019 based on the final Wholesale Price Index for 'All Commodities' remained unchanged at its provisional level of 0.33 per cent.