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India\'s inflation drops to 7.45% in Oct
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India's inflation drops to 7.45% in Oct

India Blooms News Service




New Delhi, Nov 14 (IBNS) India's headline inflation, based on monthly Wholesale Price Index (WPI), declined to 7.45% in October as against 7.81% 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 7.45% (Provisional) for the month of October, 2012 (over October, 2011) as compared to 7.81% (Provisional) for the previous month and 9.87% during the corresponding month of the previous year.

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

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

PRIMARY ARTICLES (Weight 20.12%)

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 (6%), fish-marine (5%), urad (4%), arhar, gram, maize and poultry chicken (2% each) and barley and condiments & spices (1% each). However, the prices of ragi (6%), fish-inland (3 %), moong, coffee and mutton (2% each) and tea, milk and rice (1% 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 (22%), niger seed (9%), castor seed (8%), gingelly seed (6%), raw jute and raw cotton (5% each), copra and raw silk (2% each). However, the prices of gaur seed (8%), rape & mustard seed and flowers (6% each), coir fibre (4%), sunflower (3%), raw rubber and cotton seed (2% each) and mesta, linseed, fodder (1% 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 (70%), copper ore (18%), gypsum (12%), magnesite (9%), zinc concentrate and manganese ore (5% each), crude petroleum (3%) and steatite (1%). However, the prices of iron ore (4%) declined.

FUEL & POWER (Weight 14.91%)

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 (5%) and lpg (1%). However, the prices of bitumen (12%), aviation turbine fuel (5%) and furnace oil and naphtha (3% each) declined.

MANUFACTURED PRODUCTS (Weight 64.97%)

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) (8%), tea leaf (unblended) and gola (cattle feed) (5% each), tea dust (unblended) (4%) and sooji (rawa) and sugar (1% each). However, the prices of groundnut oil and soyabean oil (4% each), coffee powder and palm oil (3% each), gur, cotton seed oil and mustard & rapeseed oil (2 % each) and oil cakes, copra oil and khandsari (1% each) declined.

The index for ‘Beverages, Tobacco & 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 (10%) and bidi, beer and rectified spirit (2% each). However, the prices of dried tobacco (15%) 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 (2%) and gunny and hessian cloth and woollen textiles (1% each). However, the prices of tyre cord fabric and jute yarn (1% each) declined.

The index for ‘Wood & 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 & fibre board (1% each).

The index for ‘Paper & 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 (1% each). However, the prices of paper cartons / boxes (1%) declined.

The index for ‘Leather & 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 (1% each).

The index for ‘Rubber & 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 (1%).

The index for ‘Chemicals & 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 (3%), rubber chemicals (2%) and ayurvedic medicines, adhesive & gum, vaccines, lacquer & varnishes and pesticides (1% each). However, the prices of hair / body oils, turpentine oil and safety matches/ match box (1% 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 (2%) and marbles and railway sleeper (1% each). However, the prices of slag cement (3%) and glass bottles & bottleware (1%) declined.

The index for ‘Basic Metals, Alloys & 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 (3%) and gold & gold ornaments, wire rods, copper products (other than wire),ferro chrome, rebars and angles (1% each). However, the prices of silver and steel structures (2% each) and pressure cooker and sheets (1% each) moved up.

The index for ‘Machinery & 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 (4%), insulators (3%), machine tools and microwave oven (2% each) and hydraulic equipment, engines and electrical pumps (1% each). However, the prices of lamps and electric motors (3% each), textile machinery (2%) and pvcinsulated cable, pump & assembly and ball/roller bearing (1% each) declined.

The index for ‘Transport, Equipment & 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 (1% 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.



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