Tuesday, November 15, 2016


 October 2016 WPI inflation stands at 3.39%

The WPI inflation stands at 3.39% in October 2016, 3.57% in September 2016, 3.85% in August 2016, 3.72% in July 2016, 2.12% in June 2016, 1.24% in May 2016 and 0.79% in April 2016. The decline in WPI inflation in the month of October 2016 is attributed to fall in the prices of rice (4.57%), wheat (6.30%), pulses (21.8%), potato (60.5%), fruits (6.4%), egg, meat and fish (6.2%).

Driven by the fall in the prices of rice, wheat, pulses, potato, fruits, egg, meat and fish, WPI inflation stands at 3.39% in October 2016 as compared to  3.57% (Y-O-Y) in September 2016. The index for this major group rose by 0.1% to 182.9 from 182.8 for the previous month.

 Trend in WPI Inflation                                                                                                                                            (Y-O-Y)
 Source: PHD Research Bureau, compiled from the office of the economic advisor to the Govt. of India
     WPI inflation in select commodities
Commodity
WPI Inflation Y-o-Y % growth
August’16
September’16
October’16
1
All Commodities
3.85
3.57
3.39
2
Primary Articles
7.75
4.76
3.31
3
Food Articles
8.87
5.75
4.34
4
Cereals
9.51
6.84
6.13
5
Vegetables
0.23
-10.91
-9.97
6
Non-food Articles
8.72
4.49
1.13
7
Fuel & Power
1.62
5.58
6.18
8
Petrol
-8.65
1.25
3.57
9
Manufactured Products
2.48
2.48
2.67
10
Sugar
35.36
32.92
29.63
11
Edible oils
6.51
5.87
4.59
12
Cement & Lime
3.61
1.49
2.48
















        
     Source: PHD Research Bureau, compiled from the office of the Economic Advisor to the Govt. of India

Build up inflation rate in the financial year so far was 4.34% as compared to a build up rate of 0.45% in the corresponding period of the previous year.

  Build up in inflation from March in select food commodities                                                      (%)
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 Source: PHD Research Bureau, compiled from the office of the Economic Advisor, Govt. of India
Manufacturing inflation stands at 2.67% (weight 64.97%)
The WPI inflation for manufactured products stands at 2.67% for the month of October 2016 as against 2.48% for the month of September 2016. The index for this major group rose by 0.2% to 157.4 (provisional) from 157.1 (provisional) for the previous month.

Trend in WPI inflation in manufactured products                                                                                       (in %)
Source: PHD Research Bureau, compiled from the office of the Economic Advisor

Food inflation at 4.34% (Weight 14.34%)
Food inflation for the month of October 2016 stands at 4.34% as against 5.75% in September 2016. The index for 'Food Articles' group declined by 0.3 percent to 278.8 (provisional) from 279.6 (provisional) for the previous month due to lower price of urad (6%), masur and fruits & vegetables (4% each), arhar, bajra, maize and mutton   (3% each), jowar (2%) and moong, fish-inland and condiments & spices (1% each).  However, the price of gram (18%),      ragi (9%), poultry chicken (5%) and fish-marine, coffee and milk (1% each) moved up.

Non-food articles inflation at 1.13% (weight 4.26%)
Non-food articles inflation for the month of October 2016 stands at 1.13% as against 4.49%  in September 2016. The index for Non-Food Articles group declined by 3.1 % to 223.2 (provisional) from 230.3 (provisional) for the previous month due to lower price of soyabean (10%), groundnut seed and flowers (8% each), raw cotton (5%), guar seed and raw rubber   (4% each), gingelly seed and castor seed (3 % each), sunflower, hides (raw), raw silk and rape & mustard seed (2% each) and raw wool, skins (raw), coir fibre and mesta (1% each).  However, the price of fodder and linseed (2% each) and cotton seed and safflower (kardi seed) (1% each) moved up.
Fuel & power inflation stands at 6.18% (weight 14.91%)
Fuel & power inflation for the month of October 2016 stands at 6.18% as against 5.58% in September 2016.The index for this major group rose by 1.0 percent to 187.3 (provisional) from 185.4 (provisional) for the previous month due to higher price of aviation turbine fuel (4%), petrol, furnace oil and high speed diesel (2% each) and kerosene and LPG (1% each).

Please contact for any query related to this mail to Ms. Surbhi Sharma, Sr. Research Officer at surbhi@phdcci.in with a cc to Dr. S P Sharma, Chief Economist, PHD Chamber of Commerce & Industry.

Warm regards,

Dr. S P Sharma

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