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WPI inflation surges to 2.93% in February on higher food, fuel prices
Mar-14-2019

Breaking three-month easing trend, India’s Wholesale price index (WPI) inflation surged to 2.93% in the month of February 2019, as compared to a 10-month low of 2.76% in January and 2.74% during the corresponding month of the previous year. The rise in inflation was mainly due to hardening of prices of primary articles, fuel and power. As per the data of Ministry of Commerce & Industry, WPI for All Commodities (Base: 2011-12=100) for the month of February, 2019 rose by 0.3% to 119.5 (provisional) from 119.2 (provisional) for the previous month. Build up inflation rate in the financial year so far was 2.75% compared to a build up rate of 2.56% in the corresponding period of the previous year. Besides, December WPI has been revised downward to 3.46% from 3.80% earlier.

Component wise, primary articles index having weight of 22.62% declined 0.2% to 134.2 (provisional) from 134.5 (provisional) for the previous month. Among the primary articles, the index for ‘Food Articles’ group slipped 0.2% to 143.8 (provisional) from 144.1 (provisional) for the previous and the index for ‘Minerals’ group declined by 8.0% to 139.3 (provisional) from 151.4 (provisional) for the previous month, while the index for ‘Non-Food Articles’ group rose by 1.0% to 126.8 (provisional) from 125.5 (provisional) for the previous month and the index for 'Crude Petroleum & Natural Gas' group jumped 1.8% to 84.8 (provisional) from 83.3 (provisional) for the previous month.

Besides, 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 to 3.29% in February, 2019 from 1.84% in January, 2019. Fuel & Power index, having weight of 13.15%, surged 1.7% to 101.0 (provisional) from 99.3 (provisional) for the previous month, on the back of rise in prices of mineral oils.

Manufactured Products constituting the major portion of the index with weight of 64.23% inched up by 0.2% to 118.1 (provisional) from 117.9 (provisional) for the previous month. Among the items in the group, the index for ‘Manufacture of Food Products’ group rose by 0.5% to 128.7 (provisional) from 128.1 (provisional) for the previous month, the index for ‘Manufacture of Beverages’ group rose by 0.2% to 121.6 (provisional) from 121.4 (provisional) for the previous month, the index for ‘Manufacture of Textiles’ group rose by 0.2% to 119.0 (provisional) from 118.8 (provisional) for the previous month, the index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group rose by 0.7% to 134.6 (provisional) from 133.7 (provisional) for the previous month and the index for ‘Printing and Reproduction of Recorded Media’ group rose by 0.1% to 145.6 (provisional) from 145.4 (provisional) for the previous month.

The index for ‘Manufacture of Chemicals and Chemical Products’ group rose by 0.3% to 119.5 (provisional) from 119.2 (provisional) for the previous month, the index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 0.3% to 125.9 (provisional) from 125.5 (provisional) for the previous month, the index for ‘Manufacture of Other Non-Metallic Mineral Products’ group rose by 1.0% to 117.5 (provisional) from 116.3 (provisional) for the previous month, the index for ‘Manufacture of Basic Metals’ group rose by 0.4% to 110.5 (provisional) from 110.1 (provisional) for the previous month, the index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ rose by 0.3% to 113.3 (provisional) from 113.0 (provisional) for the previous month and the index for ‘Manufacture of Furniture’ group rose by 1.0% to 129.7 (provisional) from 128.4 (provisional) for the previous month.

On the other hand, the index for ‘Manufacture of Wearing Apparel’ group declined by 0.7% to 139.2 (provisional) from 140.2 (provisional) for the previous month, the index for ‘Manufacture of Leather and Related Products’ group declined by 0.5% to 120.6 (provisional) from 121.2 (provisional) for the previous month, the index for ‘Manufacture of Paper and Paper Products’ group declined by 0.4% to 124.5 (provisional) from 125 (provisional) for the previous month, the index for ‘Manufacture of Rubber and Plastics Products’ group declined by 0.6% to 109.4 (provisional) from 110.1 (provisional) for the previous month, the index for ‘Manufacture of Fabricated Metal Products, Except Machinery and Equipment’ group declined by 0.3% to 115.7 (provisional) from 116.0 (provisional) for the previous month, the index for ‘Manufacture of Computer, Electronic and Optical Products’ group declined by 0.1% to 111.8 (provisional) from 111.9 (provisional) for the previous month, the index for ‘Manufacture of Electrical Equipment’ group declined by 0.2% to 112.0 (provisional) from 112.2 (provisional) for the previous month, the index for 'Manufacture of Machinery and Equipment' group declined by 0.3% to 111.5 (provisional) from 111.8 (provisional) for the previous month and the index for 'Other Manufacturing' group declined by 0.5% to 106.4 (provisional) from 106.9 (provisional) for the previous month.
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