The annual rate of inflation, based on monthly WPI, stood at 1.08% (provisional) for July, 2019 (over July ,2018) as compared to 2.02% (provisional) for the previous month and 5.27% during the corresponding month of the previous year, as per Ministry of Commerce & Industry. Build up inflation rate in the financial year so far was 1.08% compared to a build-up rate of 3.1% in the corresponding period of the previous year.
The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Products’ from Manufactured Products group decreased from 5.04% in June 2019 to 4.54% in July 2019.
The primary articles index for this major group rose by 0.5% to 142.1 (provisional) from 141.4 (provisional) for the previous month.
The index for 'Food Articles' group rose by 1.3% to 153.7 (provisional) from 151.7 (provisional) for the previous month due to higher price of fruits & vegetables (5%), egg, maize and jowar (4% each), pork (3%), beef and buffalo meat, bajra, wheat and condiments & spices (2% each) and barley, moong, paddy, peas/chawali, ragi and arhar (1% each). However, the price of fish-marine (7%), tea (6%), betel leaves (5%), poultry chicken (3%) and fish-inland, urad (1% each) declined.
The index for ' Non-Food Articles' group rose by 0.1% to 128.8 (provisional) from 128.7 (provisional) for the previous month due to higher price of groundnut seed (5%), gingelly seed (sesamum) and cottonseed (3% each), hides (raw), skins (raw), floriculture (2% each) and fodder, raw rubber and castor seed (1% each). However, the price of soybean, raw jute, mesta and sunflower (3% each), niger seed (2%) and raw cotton, gaur seed, safflower (kardi seed) and linseed (1% each) declined.
The fuel & power index for 'Minerals' group declined by 2.9% to 153.4 (provisional) from 158 (provisional) for the previous month due to lower price of copper concentrate (6%), iron ore and chromite (2% each) and lead concentrate and manganese ore (1% each). However, the price of bauxite (3%) and limestone (1%) moved up.
The index for 'Crude Petroleum & Natural Gas' group declined by 6.1% to 86.9 (provisional) from 92.5 (provisional) for the previous month due to lower price of crude petroleum (8%) and natural gas (1%).