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India's WPI inflation eases to 13.56 pct in December, reveals govt data WPI Inflation
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India's WPI inflation eases to 13.56 pct in December, reveals govt data

India Blooms News Service | @indiablooms | 14 Jan 2022, 04:57 pm

New Delhi: India's wholesale price index (WPI)-based inflation dropped to 13.56 percent in December, as per government data released on Friday.

It stood at 14.23 percent in November.

"The annual rate of inflation is 13.56% (Provisional) for the month of December, 2021 (over December, 2020) as compared to 1.95% in December, 2020," read a government statement.

The high rate of inflation in December 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products, textile and paper and paper products etc as compared to the corresponding month of the previous year.

Month over Month Change in Major Groups of WPI:

Primary Articles (Weight 22.62%):- The index for this major group declined by (-) 0.47% to 167.8 (provisional) in December, 2021 from 168.6 (provisional) for the month of November, 2021.

Prices of Non-food Articles (4.59%) increased in December, 2021 as compared to November, 2021. Prices of Minerals (-6.10%), Crude Petroleum & Natural Gas (-3.19%) and Food Articles (-1.07%) declined in December, 2021 as compared to November, 2021.

Fuel & Power (Weight 13.15%):- The index for this major group declined by (-) 2.66% to 128.2 (provisional) in December, 2021 from 131.7 (provisional) for the month of November, 2021.

Prices of Coal (0.38%) increased in December, 2021 as compared to November, 2021. Prices of Mineral Oils (-4.28%) declined in December, 2021 as compared to November, 2021. Prices of electricity remain unchanged.

Manufactured Products (Weight 64.23%):- The index for this major group increased by 0.22 % to 136.4 (provisional) in December, 2021 from 136.1 (provisional) for the month of November, 2021.

Out of the 22 NIC two-digit groups for manufactured products, 16 groups have witnessed increase in prices while 5 groups have witnessed decrease in prices in December, 2021 as compared to November, 2021.

The increase in prices is mainly contributed by manufacture of textiles; chemicals and chemical products; fabricated metal products, except machinery and equipment; electrical equipment and motor vehicles, trailers and semi-trailers.

Some of the groups that have witnessed decrease in prices are manufacture of basic metals; food products; computer, electronic and optical products; wearing apparel and beverages.

While the prices of manufacture of rubber and plastics products remain unchanged in December, 2021 as compared to November, 2021.

WPI food index (Weight 24.38%): The Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Product' from Manufactured Products group have decreased from 170.4 in November, 2021 to 169.0 in December, 2021.

The rate of inflation based on WPI Food Index increased from 6.70% in November, 2021 to 9.24% in December, 2021.

Final index for the month of October 2021 (Base Year: 2011-12=100): For the month of October, 2021 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 140.7 and 13.83% respectively.

Response Rate: The WPI for December, 2021 have been compiled at a weighted response rate of 78 percent, while the final figure for October, 2021 is based on the weighted response rate of 94 percent.