The Hindu Business Line : Inflation rate spikes further on costlier primary articles

New Delhi, March 14 The annual Wholesale Price Index-based inflation rose 5.11 per cent during the week ended March 1, higher than the previous week’s annual rise of 5.02 per cent, data showed on Friday. The rise in the year-on-year inflation rate was on account of a further spike in prices in the Primary Articles group. The annual rate of inflation stood at 6.51 per cent during the corresponding period a year ago.

On a disaggregated basis, the Primary Articles’ group index rose 0.3 per cent even as the index for ‘Food Articles’ group declined by 0.1 per cent due to lower prices of fish-marine (8 per cent) and eggs (3 per cent). However, the prices of gram, mutton, barley and masur (2 per cent each) and bajra and condiments and spices (1 per cent each) moved up.

Non-food articles

The index for ‘Non-Food Articles’ group rose by 1.2 per cent due to higher prices of raw rubber and rape and mustard seed (5 per cent each), raw tobacco (3 per cent), gingelly seed, copra and groundnut seed (2 per cent each) and skins (raw) and raw cotton (1 per cent each).

The Fuel, Power, Light and Lubricant group index rose by 0.1 per cent due to higher prices of aviation turbine fuel (6 per cent). The Manufactured Products group index rose by 0.2 per cent as the index for ‘Food Products’ group rose by 0.6 per cent due to higher prices of rape and mustard oil (8 per cent), imported edible oil (6 per cent), khandsari and rice bran oil (3 per cent each), gingelly oil and salt (2 per cent each) and ghee and groundnut oil (1 per cent each). However, the prices of gur (2 per cent) declined.

The index for ‘Beverages, Tobacco and Tobacco Products’ group rose by 0.1 per cent due to higher prices of scented chewing tobacco (2 per cent). The index for ‘Textiles’ group rose by 0.2 per cent due to higher prices of hessian cloth (3 per cent) and hessian and sacking bags (2 per cent). The index for ‘Paper and Paper Products’ group rose by 0.2 per cent due to higher prices of printing paper white and newsprint (1 per cent each).

The index for ‘Chemicals and Chemical Products’ group declined by 0.1 per cent due to lower prices of phenol (8 per cent), liquid chlorine (2 per cent) and methanol (1 per cent). The index for ‘Non-Metallic Mineral Products’ group rose by 0.2 per cent due to higher prices of building bricks (6 per cent) and ceramic tiles (3 per cent).

Metals, alloys

The index for ‘Base Metals, Alloys & Metal Products’ group rose by 0.4 per cent due to higher prices of steel wire (10 per cent), other iron steel, MS bars and rounds, zinc ingots and steel wire ropes (4 per cent each), steel sheets, plates & strips and lead ingots (3 per cent each) and foundary pig iron and basic pig iron (2 per cent each). The index for ‘Machinery and Machine Tools’ group rose by 0.2 per cent due to higher prices of hydraulic machine (8 per cent) and jelly filled telephone cables (5 per cent).

For the week ended January 5, the final WPI stood at 217.6 points, as compared to the provisional estimate of 216.6 points, while the annual rate of inflation based on final index, calculated on point to point basis, stood at 4.26 per cent as compared to 3.79 per cent points reported provisionally.

Related Stories:
Inflation at 5.02%, breaches RBI’s tolerance limit
Costlier foods drive inflation rate to 6-month high at 4.35%

More Stories on : Economy | Commodities

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page