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India's WPI inflation moves up to touch 2.59 percent in Dec from 0.58 percent in November

India's WPI inflation moves up to touch 2.59 percent in Dec from 0.58 percent in November

India Blooms News Service | @indiablooms | 14 Jan 2020, 11:57 am

New Delhi/UNI: The annual rate of inflation, based on monthly Wholesale Price Index, stood at 2.59 per cent for December 2019 over the same month last year as compared to 0.58 per cent for the previous month, according to data released by the Commerce and Industry Ministry on Tuesday.

The WPI inflation had stood at 3.46 per cent in December 2018.

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased to 11.05 per cent in December 2019 from 9.02 per cent in November.

Onions, which saw prices peak in December, saw an inflation rate of 455.8 per cent against 172.3 per cent in November. Overall vegetables inflation jumped to 69.69 per cent in December from 45.32 per cent in November.

Build up inflation rate in the financial year so far was 2.42 per cent compared to a build up rate of 2.92 per cent in the corresponding period of the previous year.

The index for Primary articles, which has weightage of 22.62 per cent, rose by 1 per cent.

The index for 'Food Articles' group rose by 0.1 per cent due to higher price of betel leaves and urad.

The index for ' Non-Food Articles' group rose by 5.5 per cent due to higher price of floriculture.

The index for 'Minerals' group declined by 0.8 per cent while for 'Crude Petroleum & Natural Gas' group, it rose by 3.5 per cent due to higher price of crude petroleum.

Index for Fuel and Power remained unchanged. The index for 'Coal' group rose by 1.4 per cent due to higher price of coking coal while for 'Mineral Oils' group, it declined by 0.4 per cent.

The index for 'Manufacture of Food Products' group rose by 1.0 per cent due to higher price of palm oil, rice bran oil and groundnut oil , cotton seed oil and mustard oil.

The index for 'Manufacture of Beverages' group declined by 0.3 per cent and for 'Manufacture of Tobacco Products' group, by 0.2 per cent.

The index for 'Manufacture of Textiles' group declined by 0.2 per cent due to lower price of woolen yarn.

The index for 'Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products' group rose by 1.0 per cent and for 'Manufacture of Rubber and Plastics Products' group, by 0.6 per cent.

The index for 'Manufacture of Computer, Electronic and Optical Products' group rose by 0.5 per cent due to higher price of colour tv and microscope among others.

The index for 'Manufacture of Electrical Equipment' group declined by 0.3 per cent while for 'Manufacture of Machinery and Equipment' group, it rose by 0.4 per cent.

The index for 'Manufacture of Motor Vehicles, Trailers and Semi-Trailers' group declined by 0.7 per cent while for 'Manufacture of Other Transport Equipment' group, it rose by 0.1 per cent . 

Image: Wikimeia Commons