Business & Economy

India's inflation rate rises slightly to 4.86% for June 2013

NetIndian News Network

New Delhi, July 15, 2013

After slowing down for four straight months, India's headline annual rate of inflation, based on the monthly wholesale price index (WPI), rose slightly to 4.86 percent for May 2013 as compared to 4.7% for the previous month and 7.58 percent during the corresponding month of the previous year.
An official statement, quoting provisional data, said that the official WPI for ‘All Commodities’ (Base: 2004-05 = 100) for June 2013 rose by 0.6 percent to 172.7 from 171.6 for the previous month, the provisional data showed.
The build-up of inflation in the financial year so far was 1.53 percent as compared to 2.3 percent in the corresponding period of the previous year, it said.
According to the data released today, food inflation in Primary Articles went up to 9.74% from 8.25% in May 2013 but declined to 6.41% in Manufactured Products from 6.50% in the previous month.
Inflation in the Fuel & Power group declined further to 7.12% from 7.32% in May 2013, the statement said.
According to the statement, the index for Primary Articles, which have a weight of 20.12% in the WPI, rose by 1.4 percent to 232.5 from 229.3 for the previous month.
Within this group, the index for ‘Food Articles’ rose by 3.0 percent to 229.8 from 223.1 for the previous month due to higher price of poultry chicken (17%), fruits & vegetables (8%), egg (6%), maize (4%), masur and rice (3% each), fish-marine and wheat (2% each) and pork, barley, moong and fish-inland (1% each). However, the price of jowar, gram and urad (2% each) and ragi and condiments & spices (1% each) declined.
The index for 'Non-Food Articles' rose by 0.1 percent to 208.8 from 208.5 for the previous month due to higher price of raw cotton (6%), fodder, copra (coconut) and gingelly seed (5% each), safflower (kardi seed) and raw rubber (4% each), raw silk, rape & mustard seed, tobacco and flowers (2% each) and sunflower, coir fibre and castor seed (1% each).
However, the price of guar seed (11%), soyabean (7%), groundnut seed (6%), niger seed and raw jute (4% each) and mesta and linseed (2% each) declined.
The index for 'Minerals' declined by 6.2 percent to 324.9 from 346.5 for the previous month due to lower price of copper ore (16%), iron ore (12%), sillimanite (6%), zinc concentrate and steatite (3% each), crude petroleum (2%) and magnesite (1%). However, the price of chromite and manganese ore (2% each) moved up.
The Fuel & Power, which have a weight of 14.91% in the WPI, rose by 1.0 percent to 194.0 from 192.0 for the previous month due to higher price of light diesel oil and naphtha (3% each), non-coking coal, furnace oil and petrol (2% each) and high speed diesel and bitumen (1% each).
In the case of Manufactured Products, which have a weight of 64.97% in the WPI, the index rose by 0.1 percent to 149.3 from 149.1 for the previous month.
Within this group, the index for 'Food Products' rose by 0.4 percent to 167.7 from 167.1 for the previous month due to higher price of gur (5%), wheat flour (atta), tea leaf (blended), canned fish, sooji (rawa) and tea dust (unblended) (2% each) and processed prawn, tea dust (blended), mixed spices, palm oil, maida and copra oil (1% each).
However, the price of gingelly oil (5%), groundnut oil (4%), coffee powder (2%) and rice bran oil and oil cakes (1% each) declined.
The index for 'Beverages, Tobacco & Tobacco Products' declined by 0.3 percent to 181.4 from 181.9 for the previous month due to lower price of dried tobacco (5%) and imfl - blended (1%).
The index for 'Textiles' rose by 0.2 percent to 135.3 from 135.0 for the previous month due to higher price of man made fabric (3%) and tyre cord fabric (1%). However, the price of woollen textiles (2%) declined.
The index for 'Wood & Wood Products' rose by 0.6 percent to 175.3 from 174.3 for the previous month due to higher price of plywood & fibre board (1%).
The index for 'Paper & Paper Products' declined by 0.1 percent to 140.5 from 140.7 for the previous month due to lower price of corrugated sheet boxes, paper rolls and paper cartons / boxes (1%). However, the price of card board (4%) and maplitho paper (1%) moved up.
The index for 'Leather & Leather Products' rose by 1.5 percent to 138.1 from 136.1 for the previous month due to higher price of leather footwear (2%).
The index for 'Rubber & Plastic Products' rose by 1.9 percent to 142.4 from 139.7 for the previous month due to higher price of tyres (4%), plastic products (2%) and rubber products (1%).
The index for 'Chemicals & Chemical Products' declined by 0.1 percent to 146.0 from 146.1 for the previous month due to lower price of di ammonium phosphate (4%) and non-cyclic compound (1%). However, the price of safety matches/ match box (8%), explosives (7%), antacid and digestive preparations (3%), hair / body oils and pigment & pigment intermediates (2% each) and pesticides, agarbattis, vaccines, thermocol, washing soap and paints (1% each) moved up.
The index for 'Non-Metallic Mineral Products' rose by 1.1 percent to 166.6 from 164.8 for the previous month due to higher price of slag cement and bricks & tiles (5% each), marbles (3%) and polished granite (1%). However, the price of glass bottles & bottleware (1%) declined.
The index for 'Basic Metals, Alloys & Metal Products' declined by 0.5 percent to 163.0 from 163.8 for the previous month due to lower price of silver (7%), sponge iron, gold & gold ornaments, melting scrap and pencil ingots (2% each) and ferro chrome, iron & steel wire, pig iron, steel: pipes & tubes, sheets, steel castings and wire rods (1% each). However, the price of copper / copper ingots (2%) and angles and aluminium (1% each) moved up.
The index for 'Machinery & Machine Tools' rose by 0.2 percent to 130.4 from 130.1 for the previous month due to higher price of pvc insulated cable (7%), electric switches (4%) and electric motors and plastic machinery (1% each). However, the price of control equipments (2%) and t.v. sets, computers, ball/roller bearing, lamps and insulators (1% each) declined.
The index for 'Transport, Equipment & Parts' rose by 0.5 percent to 132.7 from 132.1 for the previous month due to higher price of railway brake gear (3%), parts of ships/boats etc. (2%) and motor vehicles (1%).
According to the statement, for the month of April, 2013, the final Wholesale Price Index for ‘All Commodities’ stood at 171.3 as compared to 171.5 and the annual rate of inflation based on the final index stood at 4.77 percent as compared to 4.89 percent, respectively, as reported on 14.05.2013.
NNN

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