Friday, February 6, 2009

Index Numbers of Wholesale Prices in India (Base: 1993-94=100) Review for the week ended 24th January, 2009

 The official Wholesale Price Index for ‘All Commodities’ (Base: 1993-94 = 100) for the week ended 24th January, 2009 declined by 0.2 percent to 230.1 (Provisional) from 230.5 (Provisional) for the previous week. 

The annual rate of inflation, calculated on point to point basis, stood at 5.07 percent (Provisional) for the week ended 24/01/2009 (over 26/01/2008) as compared to 5.64 percent (Provisional) for the previous week (ended 17/01/2009) and 4.78 percent during the corresponding week (ended 26/01/2008) of the previous year.

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 marginally to 249.0 (Provisional) from 249.1 (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 245.4 (Provisional) from 244.9 (Provisional) for the previous week due to higher prices of maize (3%), rice (2%) and ragi, milk, condiments & spices and moong (1% each). However, the prices of fruits & vegetables and bajra (2% each) and arhar and coffee (1% each) declined.

The index for ‘Non-Food Articles’ group declined by 0.7 percent to 230.9 (Provisional) from 232.6 (Provisional) for the previous week due to lower prices of raw rubber (6%), copra (5%), groundnut seed (3%) and gingelly seed (1%). However, the prices of raw silk (2%) moved up.

The annual rate of inflation, calculated on point-to-point basis, for ‘Primary Articles’ stood at 9.02 percent (Provisional) for the week ended 24/01/2009 as compared to 11.01 percent (Provisional) in the previous week. It was 6.13 percent as on 26/01/2008 i.e. a year ago.

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

The index for this major group rose by 0.6 percent to 332.0 (Provisional) from 330.0 (Provisional) for the previous week due to higher prices of naphtha (15%), furnace oil and light diesel oil (2% each). 

3. MANUFACTURED PRODUCTS (Weight 63.75%) 


The index for this major group declined by 0.5 percent to 200.8 (Provisional) from 201.8 (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 rose by 2.5 percent to 212.3 (Provisional) from 207.2 (Provisional) for the previous week due to higher prices of oil cakes (11%), rape & mustard oil (4%), baby food (all kinds) (3%) and imported edible oil and sugar (1% each). However, the prices of rice bran oil (2%) and coffee powder and khandsari (1% each) declined.

The index for ‘Beverages Tobacco & Tobacco Products’ group rose by 0.2 percent to 299.0 (Provisional) from 298.5 (Provisional) for the previous week due to higher prices of scented chewing tobacco (8%).

The index for ‘Textiles’ group declined by 0.1 percent to 141.1 (Provisional) from 141.3 (Provisional) for the previous week due to lower prices of hessian & sacking bags (3%), woollen cloth (2%) and hessian cloth (1%). However, the prices of texturised yarn (2%) and miscellaneous cotton cloth (1%) moved up.

The index for ‘Paper & Paper Products’ group rose by 0.7 percent to 205.8 (Provisional) from 204.3 (Provisional) for the previous week due to higher prices of pulp (18%).

The index for ‘Basic Metals Alloys & Metal Products’ group declined by 5.6 percent to 261.3 (Provisional) from 276.8 (Provisional) for the previous week due to lower prices of heavy rails (23 kg. upwards) (22%), joist & rolls (20%), aluminium ingots (15%), bars & rods (13%), aluminium extrusion, blooms and billets & slabs (12% each), other aluminium material and wire (all kinds) (8% each), aluminium rolled products (7%), steel ingots (plain carbon) (5%), zinc, oromild steel & tensile plates, skelps and cr coils (4% each), angles, channels & sections (3%) and cr sheets (1%). However, the prices of ordinary casting (7%) moved up.

The index for ‘Machinery & Machine Tools’ group rose by 0.2 percent to 176.0 (Provisional) from 175.7 (Provisional) for the previous week due to higher prices of complete tractors (3%), ring spinning & doubling frames (2%) and other pumps and dry cell (1% each). However, the prices of textile machinery parts (3%), powerlooms automatic, roller bearings and air & gas compressors (2% each) and ball bearings (1%) declined.

The index for ‘Transport Equipment & Parts’ group rose by 0.3 percent to 177.1 (Provisional) from 176.5 (Provisional) for the previous week due to higher prices of car chassis (assembled) (3%) and 2/3 wheeler parts/components (1%).

4. FINAL INDEX FOR THE WEEK ENDED 29th November 2008

For the week ended 29/11/2008, the final wholesale price index for ‘All Commodities’ (Base:1993-94=100) stood at 233.3 as compared to 233.6 (Provisional) and annual rate of inflation based on final index, calculated on point to point basis, stood at 7.86 percent as compared to 8.00 percent (Provisional) reported earlier vide press note dated 11/12/2008.

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