January 2015 WPI
inflation stands at (-)0.39%
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The WPI inflation for
the month of January 2015 declined to (-)0.39% from 0.11% in Dec 2014, (-)0.17%
in Nov 2014, 1.66% in Oct 2014, 2.38% in Sept 2014, 3.85% in Aug 2014 and
5.41% in July 2014. The decrease in WPI inflation in the month of Jan
2015 is attributed to decrease in the prices of particularly
potatoes(2.11%), fibres(-19.43%) and egg, meat and fish(-1.5%). The
decline in inflation in manufactured products can be attributed to the
decline in global commodities prices.
Driven
by the increase in the prices of fibres, potatoes and egg, meat and fish,
the WPI inflation decreased to (-)0.39% (Y-O-Y) for the month of January
2015 as compared to 0.11% (Y-O-Y) for the month of January 2015. The
Index for Wholesale Prices for the month of December 2014 declined by
0.8% to 178.3 from 179.8 for the previous month.
Trend in WPI inflation since April 2011
(Y-O-Y %)
WPI inflation in select commodities
Source: PHD Research Bureau, compiled from the office of the Economic Advisor to the Govt. of India
The build up in inflation in
the financial year so far (January 2015) stands at (-)1.11% as compared
to a build up
of 5.23% in the corresponding period of the previous year. Buildup in WPI
inflation has declined due to fall in the prices of food articles,
cereals, rice, wheat, potato, fibre, Egg, Meat & Fish, Non-Food Articles,
minerals, fuel& power and manufactured products .
Build up in inflation
from March in select food commodities
(%)
Source: PHD Research Bureau, compiled from the office of the Economic Advisor, Govt. of India
Manufacturing inflation stands at 2.04% (weight 64.97%)
The
WPI inflation for manufactured products stands at 1.05% for the month of
January 2015 as against 1.57% in December 2014. The index for this major
group declined by 0.3% to 154.5 from 154.9 for the previous month.
Food inflation declines to 0.63% (Weight 14.34%)
Food
inflation for the month of January 2015 has increased to 8% from 5.20%
for the month of December 2014, mainly on account of increase in the
prices of pulses, onion and vegetables.
The
index for ‘Food Articles’ group declined by 0.1% to 252.4
(provisional) from 252.7 (provisional) for the previous month due to
lower price of egg (4%), jowar (3%), beef & buffalo meat and mutton
(2% each) and fruits & vegetables and fish-inland (1% each).
However, the price of urad (7%), masur and gram (5% each), arhar, moong
and barley (4% each), maize (3%), fish-marine and bajra (2% each) and
ragi, wheat, pork and condiments & spices (1% each) moved up.
Non-food articles inflation at (-)3.06% (weight 4.26%)
The
rate of inflation for Non food articles for the month of January 2015
stands at (-) 4.07% as compared to (-)3.06 for the previous month. The
index for ‘Non-Food Articles’ group declined by 0.7 percent to
207.6 (provisional) from 209.1 (provisional) for the previous month due
to lower price of flowers (9%), cotton seed (7%), raw silk (5%), raw
cotton (3%), sunflower, gingelly seed and castor seed (2% each) and
fodder (1%). However, the price of
niger seed (6%), raw rubber
(5%), copra (coconut) (4%), soyabean (3%), rape & mustard seed and
mesta (2% each) and gaur seed and groundnut seed (1% each) moved up.
Fuel & power inflation stands at (-)7.82%
(weight 14.91%)
The
rate of inflation for fuel and power for the month of January 2015 stands
at (-) 10.69% as compared to (-)7.82% for the previous month. The index
for this major group declined by 2.5% to 189.7 (provisional) from
194.6 (provisional) for the previous month due to lower price of aviation
turbine fuel (14%), furnace oil (6%) and petrol and high speed diesel (4%
each).
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