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India's inflation drops to 7.45pc in Oct

Posted on Nov 14, 07:39PM | IBNS

India's headline inflation, based on monthly Wholesale Price Index (WPI), declined to 7.45pc in October as against 7.81pc in September, revealed government numbers on Wednesday.

Details:

The official Wholesale Price Index (WPI) for 'All Commodities' (Base: 2004-05 = 100) for the month October, 2012 rose by 0.2 percent to 168.7 (Provisional) from 168.4 (Provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 7.45pc (Provisional) for the month of October, 2012 (over October, 2011) as compared to 7.81pc (Provisional) for the previous month and 9.87pc during the corresponding month of the previous year.

Build up inflation in the financial year so far was 4.78pc compared to a build up of 5.02pc in the corresponding period of the previous year.

The movement of the index for the various commodity groups is summarized below:

PRIMARY ARTICLES (Weight 20.12pc )

The index for this major group declined by 0.2 percent to 220.2 (Provisional) from 220.7 (Provisional) for the previous month. The groups and items for which the index showed variations during the month are as follows:-

The index for 'Food Articles' group declined by 0.1 percent to 212.5 (Provisional) from 212.7 (Provisional) for the previous month due to lower prices of bajra (6pc ), fish-marine (5pc ), urad (4pc ), arhar, gram, maize and poultry chicken (2pc each) and barley and condiments and spices (1pc each). However, the prices of ragi (6pc ), fish-inland (3 pc ), moong, coffee and mutton (2pc each) and tea, milk and rice (1pc each) moved up.

The index for 'Non-Food Articles' group declined by 2.3 percent to 197.7 (Provisional) from 202.4 (Provisional) for the previous month due to lower prices of soyabean (22pc ), niger seed (9pc ), castor seed (8pc ), gingelly seed (6pc ), raw jute and raw cotton (5pc each), copra and raw silk (2pc each). However, the prices of gaur seed (8pc ), rape and mustard seed and flowers (6pc each), coir fibre (4pc ), sunflower (3pc ), raw rubber and cotton seed (2pc each) and mesta, linseed, fodder (1pc each) moved up.

The index for 'Minerals' group rose by 2.4 percent to 355.8 (Provisional) from 347.6 (Provisional) for the previous month due to higher prices of barytes (70pc ), copper ore (18pc ), gypsum (12pc ), magnesite (9pc ), zinc concentrate and manganese ore (5pc each), crude petroleum (3pc ) and steatite (1pc ). However, the prices of iron ore (4pc ) declined.

FUEL and POWER (Weight 14.91pc )

The index for this major group rose by 0.8 percent to 189.9 (Provisional) from 188.3 (Provisional) for the previous month due to higher prices of high speed diesel (5pc ) and lpg (1pc ). However, the prices of bitumen (12pc ), aviation turbine fuel (5pc ) and furnace oil and naphtha (3pc each) declined.

MANUFACTURED PRODUCTS (Weight 64.97pc )

The index for this major group rose by 0.1 percent to 147.9 (Provisional) from 147.7 (Provisional) for the previous month. The groups and items for which the index showed variations during the month are as follows:-
The index for 'Food Products' group rose by 0.1 percent to 166.7 (Provisional) from 166.5 (Provisional) for the previous month due to higher prices of tea leaf (blended) (8pc ), tea leaf (unblended) and gola (cattle feed) (5pc each), tea dust (unblended) (4pc ) and sooji (rawa) and sugar (1pc each). However, the prices of groundnut oil and soyabean oil (4pc each), coffee powder and palm oil (3pc each), gur, cotton seed oil and mustard and rapeseed oil (2 pc each) and oil cakes, copra oil and khandsari (1pc each) declined.

The index for 'Beverages, Tobacco and Tobacco Products' group rose by 0.2 percent to 175.6 (Provisional) from 175.2 (Provisional) for the previous month due to higher prices of zarda (10pc ) and bidi, beer and rectified spirit (2pc each). However, the prices of dried tobacco (15pc ) declined.

The index for 'Textiles' group rose by 0.5 percent to 131.6 (Provisional) from 130.9 (Provisional) for the previous month due to higher prices of jute sacking bag (2pc ) and gunny and hessian cloth and woollen textiles (1pc each). However, the prices of tyre cord fabric and jute yarn (1pc each) declined.

The index for 'Wood and Wood Products' group rose by 0.4 percent to 171.7 (Provisional) from 171.1 (Provisional) for the previous month due to higher prices of processed wood and plywood and fibre board (1pc each).

The index for 'Paper and Paper Products' group rose by 0.2 percent to 136.5 (Provisional) from 136.2 (Provisional) for the previous month due to higher prices of maplitho paper and books/ periodicals/ journals (1pc each). However, the prices of paper cartons / boxes (1pc ) declined.

The index for 'Leather and Leather Products' group declined by 0.6 percent to 134.1 (Provisional) from 134.9 (Provisional) for the previous month due to lower prices of leather footwear and leathers (1pc each).

The index for 'Rubber and Plastic Products' group rose by 0.3 percent to 137.9 (Provisional) from 137.5 (Provisional) for the previous month due to higher prices of rubber products (1pc ).

The index for 'Chemicals and Chemical Products' group rose by 0.2 percent to 144.1 (Provisional) from 143.8 (Provisional) for the previous month due to higher prices of shampoo (3pc ), rubber chemicals (2pc ) and ayurvedic medicines, adhesive and gum, vaccines, lacquer and varnishes and pesticides (1pc each). However, the prices of hair / body oils, turpentine oil and safety matches/ match box (1pc each) declined.

The index for 'Non-Metallic Mineral Products' group rose by 0.2 percent to 164.8 (Provisional) from 164.5 (Provisional) for the previous month due to higher prices of polished granite (2pc ) and marbles and railway sleeper (1pc each). However, the prices of slag cement (3pc ) and glass bottles and bottleware (1pc ) declined.

The index for 'Basic Metals, Alloys and Metal Products' group declined by 0.2 percent to 166.8 (Provisional) from 167.2 (Provisional) for the previous month due to lower prices of sponge iron (3pc ) and gold and gold ornaments, wire rods, copper products (other than wire),ferro chrome, rebars and angles (1pc each). However, the prices of silver and steel structures (2pc each) and pressure cooker and sheets (1pc each) moved up.

The index for 'Machinery and Machine Tools' group rose by 0.2 percent to 128.5 (Provisional) from 128.3 (Provisional) for the previous month due to higher prices of t.v.sets (4pc ), insulators (3pc ), machine tools and microwave oven (2pc each) and hydraulic equipment, engines and electrical pumps (1pc each). However, the prices of lamps and electric motors (3pc each), textile machinery (2pc ) and pvcinsulated cable, pump and assembly and ball/roller bearing (1pc each) declined.

The index for 'Transport, Equipment and Parts' group rose by 0.4 percent to 130.1 (Provisional) from 129.6 (Provisional) for the previous month due to higher prices of shafts (all kinds) and bus / mini bus / truck (1pc each).

FINAL INDEX FOR THE MONTH OF AUGUST , 2012 (BASE YEAR: 2004-05=100)

For the month of August, 2012, the final Wholesale Price Index for 'All Commodities' (Base: 2004-05=100) stood at 167.3 as compared to 166.6 (provisional) and annual rate of inflation based on final index stood at 8.01 percent as compared to 7.55 percent respectively as reported on 14.09.2012.