WPI inflation rises to 3.93% in November 2017

Following the trend of Consumer Price Index (CPI), India’s annual rate of inflation based on wholesale prices too rose in the month of November, due to increasing prices of food and fuel products. The index rose for the second consecutive month, after easing in the month of September to 2.60%. According to the data released by the Ministry of Commerce & Industry, the wholesale price inflation (WPI) surged to 3.93% in November 2017 from 3.59% in October 2017 and 1.82% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 2.74% compared to a build up rate of 3.90% in the corresponding period of the previous year.

Component wise, primary articles index, having weight of 22.62%, was up by 1.6% to 135.6 (provisional) from 133.4 (provisional) for the previous month. Among the primary articles, the index for ‘Food Articles’ group rose by 1.8% to 150.6 (provisional) from 148.0 (provisional) for the previous month, the index for ‘Minerals’ group rose by 7.0% to 129.3 (provisional) from 120.8 (provisional) for the previous month and the index for ‘Crude Petroleum & Natural Gas’ group rose by 6.7% to 74.5 (provisional) from 69.8 (provisional) for the previous month. On the flip side, the index for ‘Non-Food Articles’ group declined by 1.9% to 116.9 (provisional) from 119.2 (provisional) for the previous month.

Fuel & Power index having weight of 13.15%, moved up by 1.6% to 95.0 (provisional) from 93.5 (provisional) for the previous month, as index of Mineral Oils and coal also surged.

Manufactured Products constituting the major portion of the index with weight of 64.23% increased by 0.2% to 113.9 (provisional) from 113.7 (provisional) for the previous month. The index for ‘Manufacture of Beverages’ group rose by 0.4% to 119.5 (provisional) from 119.0 (provisional) for the previous month. The index for ‘Manufacture of Tobacco Products’ group surged  4.3% to 155.3 (provisional) from 148.9 (provisional) for the previous month. The index for ‘Manufacture of Textiles’ group was  up by 0.3%to 113.5 (provisional) from 113.2 (provisional) for the previous month. The index for ‘Manufacture of Wearing Apparel’ group grew 0.3% to 137.5 (provisional) from 137.1 (provisional) for the previous month and the index for ‘Manufacture of Leather and Related Products’ group increased by 0.3% to 119.5 (provisional) from 119.1 (provisional) for the previous month.

Besides, the index for ‘Manufacture of Chemicals and Chemical Products’ group rose by 0.4% to 112.2 (provisional) from 111.7 (provisional) for the previous month. The index for ‘Manufacture of Basic Metals’ group moved up by 0.3% to 101.0 (provisional) from 100.7 (provisional) for the previous month. The index for ‘Manufacture of Fabricated Metal Products, Except Machinery and Equipment’ group jumped 2.1% to 111.1 (provisional) from 108.8 (provisional) for the previous month. The index for ‘Manufacture of Machinery and Equipment’ group rose by 0.3% to 109.4 (provisional) from 109.1 (provisional) for the previous month. The index for ‘Manufacture of Other Transport Equipment’ group was up by 0.9% to 110.8 (provisional) from 109.8 (provisional) for the previous month and the index for ‘Other Manufacturing’ group bounced 2.0% to 108.7 (provisional) from 106.6 (provisional) for the previous month.

On the flip side, the index for ‘Manufacture of Food Products’ group was down by 0.3%  to 127.9 (provisional) from 128.3 (provisional) for the previous month . The index for ‘Manufacture of Wood and of Products of Wood & Cork ‘ group declined by 0.5% to 131.6 (provisional) from 132.3 (provisional) for the previous month. The index for ‘Manufacture of Paper and Paper Products’ group decreased by 1.3% to 118.1 (provisional) from 119.6 (provisional) for the previous month. The index for ‘Printing and Reproduction of Recorded Media ‘ group fell 0.4% to 142.5 (provisional) from 143.1 (provisional) for the previous month and the index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group declined by 0.4% to 121.6 (provisional) from 122.1 (provisional) for the previous month.

Further, the index for ‘Manufacture of Other Non-Metallic Mineral Products’ group was down by 0.4% to 111.4 (provisional) from 111.8 (provisional) for the previous month. The index for ‘Manufacture of Computer, Electronic and Optical Products’ group declined by 1.3%to 110.3 (provisional) from 111.8 (provisional) for the previous month. The index for ‘Manufacture of Electrical Equipment’ group dipped 0.2% to 110.0 (provisional) from 110.2 (provisional) for the previous month. The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group fell 0.2% to 110.4 (provisional) from 110.6 (provisional) for the previous month and the index for ‘Manufacture of Furniture’ group decreased by 1.7% to 122.5 (provisional) from 124.6 (provisional) for the previous month.