Index numbers of wholesale prices in India (base: 1993-94=100) review for the week ended 18th October 2008

 
The official Wholesale Price Index for 'All Commodities' (Base: 1993-94 = 100) for the week ended 18th October 2008 declined by 0.2 percent to 238.3 (Provisional) from 238.8 (Provisional) for the previous week.

The annual rate of inflation, calculated on point to point basis, stood at 10.68 percent (Provisional) for the week ended 18/10/2008 (over 20/10/2007) as compared to 11.07 percent (Provisional) for the previous week. The annual rate of inflation stood at 3.11 percent as on 20/10/2007 i.e. a year ago.

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

1. PRIMARY ARTICLES (Weight 22.02%)

The index for this major group declined by 0.3 percent to 248.8 (Provisional) from 249.5 (Provisional) for the previous week. The groups and items for which the index showed variations during the week are as follows:-

 

The index for 'Food Articles' group rose by 0.2 percent to 243.0 (Provisional) from 242.6 (Provisional) for the previous week due to higher prices of bajra and maize (5% each), jowar (2%) and fruits & vegetables (1%). However, the prices of wheat and arhar (2% each) and urad (1%) declined.

 

The index for 'Non-Food Articles' group declined by 1.5 percent to 231.7 (Provisional) from 235.3 (Provisional) for the previous week due to lower prices of raw rubber (8%), raw cotton (6%) and groundnut seed (1%). However, the prices of rape & mustard seed (1%) moved up.

 

The annual rate of inflation, calculated on point to point basis, for ‘Primary Articles’ stood at 10.92 percent (Provisional) for the week ended 18/10/2008 as compared to 11.53 percent (Provisional) in the previous week. It was 5.11 percent as on 20/10/2007 i.e. a year ago.

The annual rate of inflation for ‘Food Articles’ stood at 8.43 percent (Provisional) for the week ended 18/10/2008 as compared to 8.74 percent (Provisional) in the previous week. It was 3.27 percent as on 20/10/2007 i.e. a year ago.

2. FUEL, POWER, LIGHT & LUBRICANTS (Weight 14.23%)

 

The index for this major group declined by 0.4 percent to 369.3 (Provisional) from 370.6 (Provisional) for the previous week due to lower prices of furnace oil (6%) and light diesel oil (3%). However, the prices of bitumen (4%) moved up.

3. MANUFACTURED PRODUCTS (Weight 63.75%)

The index for this major group declined by 0.1 percent to 205.4 (Provisional) from 205.7 (Provisional) for the previous week. The groups and items for which the index showed variations during the week are as follows:-

The index for 'Food Products' group declined by 0.5 percent to 204.4 (Provisional) from 205.4 (Provisional) for the previous week due to lower prices of imported edible oil (4%), oilcakes (3%), rice bran oil and gingelly oil (2% each) and groundnut oil (1%). However, the prices of khandsari (4%) and gur (1%) moved up.

The index for 'Beverages, Tobacco & Tobacco Products' group rose by 1.0 percent to 296.6 (Provisional) from 293.7 (Provisional) for the previous week due to higher prices of bidi (5%).

The index for 'Textiles' group declined by 0.1 percent to 139.9 (Provisional) from 140.0 (Provisional) for the previous week due to lower prices of texturised yarn (4%). However, the prices of hessian cloth and hessian & sacking bags (1% each) moved up.

The index for 'Chemicals & Chemical Products' group declined by 0.1 percent to 224.5 (Provisional) from 224.8 (Provisional) for the previous week due to lower prices of p.v.c. resins (14%), purified terephthalic acid (pta) (12%) and benzene (2%).

The index for 'Non-Metallic Mineral Products' group rose by 0.1 percent to 218.2 (Provisional) from 217.9 (Provisional) for the previous week due to higher prices of building bricks (3%).

The index for 'Basic Metals, Alloys & Metal Products' group declined by 0.3 percent to 296.7 (Provisional) from 297.7 (Provisional) for the previous week due to lower prices of zinc (11%), lead ingots, basic pig iron and foundary pig iron (3% each), zinc ingots and ms bars & rounds (2% each) and steel sheets, plates & strips (1%).

4. FINAL INDEX FOR THE WEEK ENDED 23rd August 2008.

For the week ended 23/08/2008, the final wholesale price index for 'All Commodities’ (Base: 1993-94=100) stood at 241.2 as compared to 240.3 (Provisional) and annual rate of inflation based on final index, calculated on point to point basis, stood at 12.76 percent as compared to 12.34 percent (Provisional) reported earlier vide press note dated 05/09/2008.