WPI inflation slows to 2.47% in March

In line with easing retail inflation, India’s inflation on wholesale level also softened slightly in the month of March, aided by fall in prices of food articles, mainly pulses and vegetables. The wholesale price index (WPI) declined for the fourth straight month. According to the latest data released by the government, WPI stood at 2.47% (provisional) for the month of March, 2018 (over March, 2017) as compared to 2.48% (provisional) for the previous month and 5.11% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 2.47% compared to a build up rate of 5.11% in the corresponding period of the previous year.

Component wise, primary articles index having weight of 22.62%, dropped 0.5% to 127.4 (provisional) from 128 (provisional) for the previous month. Among the primary articles, the index for ‘Food Articles’ group declined by 0.4% to 137.2 (provisional) from 137.8 (provisional) for the previous month, the index for ‘Non-Food Articles’ group was down by 0.3% to 120.2 (provisional) from 120.6 (provisional) for the previous month, the index for ‘Minerals’ group declined by 2.0% to 119.7 (provisional) from 122.2 (provisional) for the previous month and the index for ‘Crude Petroleum & Natural Gas’ group was down by 0.5 percent to 80.2 (provisional) from 80.6 (provisional) for the previous month.

Fuel & Power index having weight of 13.15%, decreased by 0.1% to 98.0 (provisional) from 98.1 (provisional) for the previous month, on the back of declining mineral oils prices.

Manufactured Products constituting the major portion of the index with weight of 64.23% rose by 0.4% to 115.7 (provisional) from 115.2 (provisional) for the previous month. The index for ‘Manufacture of Food Products’ group increased by 1.0% to 127.7 (provisional) from 126.4 (provisional) for the previous month, the index for ‘Manufacture of Beverages’ group gained 0.4% to 119.8 (provisional) from 119.3 (provisional) for the previous month, the index for ‘Manufacture of Textiles’ group was up by 0.4% to 114.1 (provisional) from 113.7 (provisional) for the previous month, The index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group increased by 0.6% to 131.7 (provisional) from 130.9 (provisional) for the previous month and the index for ‘Manufacture of Paper and Paper Products’ group rose by 0.8% to 120.9 (provisional) from 120.0 (provisional) for the previous month.

Besides, the index for ‘Printing and Reproduction of Recorded Media’ group increased by 0.8% to 144.6 (provisional) from 143.5 (provisional) for the previous month, the index for ‘Manufacture of Chemicals and Chemical Products’ group was up by 0.2% to 115.2 (provisional) from 115.0 (provisional) for the previous month, the index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 0.2% to 121.0 (provisional) from 120.7 (provisional) for the previous month, the index for ‘Manufacture of Rubber and Plastics Products’ group increased by 0.5% to 107.8 (provisional) from 107.3 (provisional) for the previous month and the index for ‘Manufacture of Basic Metals’ group rose by 1.5% to 109.5 (provisional) from 107.9 (provisional) for the previous month.

The index for ‘Manufacture of Fabricated Metal Products, Except Machinery and Equipment’ group was up by 0.4% to 112.2 (provisional) from 111.8 (provisional) for the previous month, the index for ‘Manufacture of Electrical Equipment’ group rose by 0.1% to 109.5 (provisional) from 109.4 (provisional) for the previous month, the index for ‘Manufacture of Machinery and Equipment’ group was up by 0.3% to 110.0 (provisional) from 109.7 (provisional) for the previous month and the index for ‘Manufacture of Furniture’ group surged 2.7% to 123.9 (provisional) from 120.7 (provisional) for the previous month.

On the other hand, the index for ‘Manufacture of Tobacco Products’ group declined by 0.4% to 152.1 (provisional) from 152.7 (provisional) for the previous month, the index for ‘Manufacture of Wearing Apparel’ group was down by 0.9% to 137.8 (provisional) from 139.0 (provisional) for the previous month, the index for ‘Manufacture of Leather and Related Products’ group decreased by 0.9% to 120.5 (provisional) from 121.6 (provisional) for the previous month and the index for ‘Manufacture of other Non-Metallic Mineral Products’ group declined by 0.5% to 113.8 (provisional) from 114.4 (provisional) for the previous month.

The index for ‘Manufacture of Computer, Electronic and Optical Products’ group was down by 0.3% to 110.4 (provisional) from 110.7 (provisional) for the previous month, the index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group declined by 0.1% to 111.0 (provisional) from 111.1 (provisional) for the previous month, the index for ‘Manufacture of Other Transport Equipment’ group fell 1.3% to 110.6 (provisional) from 112.0 (provisional) for the previous month and the index for ‘Other Manufacturing’ group slipped by 2.5% to 104.1 (provisional) from 106.8 (provisional) for the previous month.