Deviating from last three months of easing trend and adding to the woes of policy-makers, the annual rate of inflation, based on monthly WPI, shot up to 4.86% (Provisional) for the month of June, 2013 (over May, 2012) as compared to 4.70% (Provisional) for the previous month and 7.58% during the corresponding month of the previous year. However, the rate of uptick was lower than expected. Build up inflation in the financial year so far, was 1.53% compared to a build-up rate of 2.30% in the corresponding period of the previous year. Meanwhile in a pleasant surprise, April inflation figures were revised downward to 4.77% from 4.89%.
Manufactured products, which carry weight of 64.97% in the index, rose by 0.1% to 149.3 (Provisional) from 149.1 (Provisional) for the previous month. The index for 'Food Products' group rose by 0.4% to 167.7 (Provisional) from 167.1 (Provisional) for the previous month. The index of Fuel & Power, which has weight of 14.91%, rose by 1.0% to 194.0 (Provisional) from 192.0 (Provisional) for the previous month due to higher price of light diesel oil and naphtha (3% each), non-coking coal, furnace oil and petrol (2% each) and high speed diesel and bitumen (1% each).
The index of Primary Articles, having weight of 20.12% too rose by 1.4% to 232.5 (Provisional) from 229.3 (Provisional) for the previous month. The index for 'Non-Food Articles' group rose by 0.1% to 208.8 (Provisional) from 208.5 (Provisional) for the previous month, however the index for 'Minerals' group declined by 6.2% to 324.9 (Provisional) from 346.5 (Provisional) for the previous month.
Adding to the set of gloomy data, headline inflation edged higher after a surprise drop in industrial output, a fall in exports and higher retail inflation. However, core wholesale price index, or inflation that excludes volatile food and fuel prices, is estimated to have eased to 2% from an annual 2.4% rise in May, which may provide the central bank with some room to cut policy rates by 25 basis points in its policy review at the end of this month.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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