Wholesale Price Index stands at 2.17% in May; March WPI revised

This month, all commodities under WPI declined by 0.4% to 112.8 from 113.2 for the previous month.

Workers standing in a factory. Photo: IANS

The Wholesale Price Index (WPI) or wholesale inflation for the month of May 2017 stood at 2.17% as compared to 3.85% for April 2017 and negative 0.90% in the similar period of the previous year.

This month, all commodities under WPI declined by 0.4% to 112.8 from 113.2 for the previous month.

A Bloomberg poll had estimated WPI Inflation to range at 2.90% for May 2017.

source: tradingeconomics.com

The index for primary articles group declined by 1.5% to 126.5 from 128.4 for the previous month.

Index for 'Food Articles' group declined by 1.2% to 137.7 from 139.4 for the previous month due to lower price of fish-inland and egg (10% each), betel leaves (6%), fish-marine, barley, masur and tea (5% each), arhar and condiments & spices (4% each), ragi, wheat and urad (3% each), gram and fruits & vegetables (2% each) and coffee, rajma, moong, maize and jowar (1% each).

While index for 'Non-Food Articles' group declined by 1.2% to 119.8 from 121.2 for the previous month due to lower price of raw rubber (10%), guar seed (6%), cotton seed (4%), castor seed, raw jute, soyabean and groundnut seed (3% each), raw cotton, mesta, raw silk, copra (coconut) and sunflower (2% each) and fodder and linseed (1% each). However, the price of floriculture (8%), niger seed (2%) and safflower (kardi seed) (1%) moved up.

In case of fuel & power group, the index declined by 2.1% to 90.8 from 92.8 for the previous month due to lower prices of LPG (12%), bitumen and electricity (4% each), naphtha (3%), ATF, petrol and HSD (1% each). However, the price of petroleum coke (7%), lignite (6%), and kerosene (3%) moved up.

ALSO READ: WPI data today: How low will May wholesale inflation go?

Manufacturing index rose by 0.4% to 112.6 from 112.1 for the previous month. The groups and items for which the index showed variations during the month.

The Ministry of Commerce & Industry, for the month of March, 2017 revised the final Wholesale Price Index for ‘All Commodities’ which stood at 185.8 as compared to 185.3 and annual rate of inflation based on final index stood at 5.99% as compared to 5.70% respectively.

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