India's WPI inflation at 3.07% in April; Food inflation at 4.95%

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 3.89% in March 2019 to 4.95% in April 2019, the Ministry of Commerce & Industry said.

May 14, 2019 06:05 IST India Infoline News Service

wpi inflation
India’s wholesale price inflation (WPI) rose to 3.07% in April, data released by the commerce and industry ministry on Tuesday showed.

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 3.89% in March 2019 to 4.95% in April 2019, the Ministry of Commerce & Industry said.

The annual rate of inflation, based on monthly WPI, stood at 3.07% (provisional) for the month of Apr 2019 (over Apr 2018) as compared to 3.18% (provisional) for the previous month and 3.62% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 0.75% compared to a build-up rate of 0.86% in the corresponding period of the previous year, the Ministry of Commerce & Industry said in the release.

Primary Articles (Weight 22.62%)
The index for this major group rose by 3.3% to 139.2 (provisional) from 134.7 (provisional) for the previous month.

The index for 'Food Articles' group rose by 3.4% to 150.1 (provisional) from 145.1 (provisional) for the previous month due to higher price of tea (15%), fruits & vegetables (14%), peas/chawali (6%), maize (5%), poultry chicken (4%), arhar, bajra and pork (3% each), gram and condiments & spices (2% each) and masur, urad, mutton and rajma (1% each). However, the price of an egg (6%), betel leaves (4%), barley and wheat (3% each) and beef and buffalo meat (1%) declined.

The index for ' Non-Food Articles' group rose by 2.6% to 126.7 (provisional) from 123.5 (provisional) for the previous month due to higher price of floriculture (11%), safflower (kardi seed) (9%), raw cotton (7%), niger seed and castor seed (6% each), gaur seed, soyabean and cotton seed (3% each), groundnut seed and skins (raw) (2% each) and raw silk, linseed, raw rubber and fodder (1% each). However, the price of copra (coconut), raw jute and mesta (3% each), gingelly seed (sesamum) and sunflower (2% each) and rape & mustard seed and coir fibre (1% each) declined.

The index for 'Minerals' group rose by 5.3% to 144 (provisional) from 136.7 (provisional) for the previous month due to higher price of sillimanite (27%), copper concentrate (16%) and chromite (3%). However, the price of iron ore and lead concentrate (5% each), garnet and manganese ore (3% each) and limestone (1%) declined.

Fuel & Power (Weight 13.15%)
The index for this major group declined by 0.5% to 102.8 (provisional) from 103.3 (provisional) for the previous month.

The index for 'Mineral Oils' group rose by 0.4% to 95.4 (provisional) from 95 (provisional) for the previous month due to higher price of LPG (5%), naphtha (3%), petrol and kerosene (2% each) and ATF (1%). However, the price of petroleum coke (3%), furnace oil (2%) and HSD (1%) declined.

Manufactured Products (Weight 64.23%)
The index for this major group remained unchanged at its previous month level of 118.3.

The index for 'Manufacture of Textiles' group rose by 0.6% to 119.4 (provisional) from 118.7 (provisional) for the previous month due to higher price of manufacture of cordage, rope, twine and netting (2%) and cotton yarn and weaving & finishing of textiles (1% each). However, the price of woollen yarn (1%) declined.

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