Anand Sharma announces new WPI series

New Delhi : Union Minister of Commerce & Industry Anand Sharma on Tuesday announced the new series of the Wholesale Price Index (WPI) here.

Sharma said the new series has been prepared by shifting the base year from 1993-94 to 2004-05 and added that WPI for the month of August 2010 has been released with base year 2004-05.

He informed that the change in base would improve the accuracy and be more representative of the wholesale price index.

The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05 = 100) for the month of August 2010 remained unchanged at its previous month?s level of 140.3 (Provisional).

The annual rate of inflation, based on monthly WPI, stood at 8.51% (Provisional) for the month of August, 2010 (over August, 2009) as compared to 9.78 % (Provisional) for the previous month. Build up inflation in the financial year so far was 3.31% compared to a build up of 4.95% in the corresponding period of the previous year.

The index for the major group of primary articles declined by 0.3 percent to 177.0 (Provisional) from 177.5 (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 0.8 percent to 176.2 (Provisional) from 177.6 (Provisional) for the previous month due to lower prices of fruits & vegetables (7%), moong and masur (5% each) and arhar (4%).

However, the prices of condiments & spices (7%), fish-inland and maize (5% each), gram and bajra (3% each), barley and wheat (2% each) and tea, coffee, milk and rice (1% each) moved up.

The index for ?Non-Food Articles? group rose by 1.1 percent to 154.1 (Provisional) from 152.4 (Provisional) for the previous month due to higher prices of flowers (13%), rose and groundnut seed (11% each), castor seed (8%), marigold, cotton seed and copra (coconut) (5% each), coir fibre(4%), raw silk (3%), sunflower (2%) and fodder (1%). However, the prices of soyabean (11%), raw rubber (4%) and gingelly seed (sesamum), raw jute and mesta (1% each) declined.

The index for ‘Minerals’ group rose by 1.0 percent to 248.5 (Provisional) from 246.1 (Provisional) for the previous month due to higher prices of crude petroleum and barytes (2% each). However, the prices of steatite (6%) declined.

The index for fuel and power group rose by 0.1 percent to 148.0 (Provisional) from 147.8 (Provisional) for the previous month due to higher prices of furnace oil and aviation turbine fuel (2% each) and naphtha (1%). However, the prices of light diesel oil (2%) declined.

The index for manufactured products group rose by 0.2 percent to 127.2 (Provisional) from 127.0 (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 0.6 percent to 138.3 (Provisional) from 137.5 (Provisional) for the previous month due to higher prices of groundnut oil (4%), sooji (rawa) and mustard & rapeseed oil (3% each), rice bran extraction, rice bran, gingelly oil and cotton seed oil (2% each) and rice bran oil, oil cake, copra oil, tea leaf (unblended), soyabean oil, sunflower oil, palm oil, wheat flour (atta), mixed spices, gur and canned fish (1% each).

The index for ‘Beverages, Tobacco & Tobacco Products? group rose by 0.1 percent to 143.6 (Provisional) from 143.4 (Provisional) for the previous month due to higher prices of beer (2%). However, the prices of zarda (1%) declined.

The index for ‘Textiles’ group declined by 0.1 percent to 115.3 (Provisional) from 115.4 (Provisional) for the previous month due to lower prices of acrylic fibre (5%), texturised and twisted yarn, viscose staple fibre, woollen yarn, jute yarn, cotton yarn (unbleached) and nylon yarn (1% each).

However, the prices of cotton shirting (3%) and jute sacking bag, cotton yarn (dyed), finished / processed cotton yarn (not knitted), polyester yarn and jute sacking cloth (1% each) moved up.

The index for ‘Wood & Wood Products’ group rose by 0.5 percent to 149.1 (Provisional) from 148.3 (Provisional) for the previous month due to higher prices of wooden almirah / cabinets/ cupboard (5%) and processed/ sized wood cutting and plywood board (1% each).

The index for ?Paper & Paper Products? group declined by 0.2 percent to 121.9 (Provisional) from 122.1 (Provisional) for the previous month due to lower prices of printing and writing paper (1%). However, the prices of paper cartons / boxes and bristle paper board (1% each) moved up.

The index for ?Rubber & Plastic Products? group rose by 0.4 percent to 124.2 (Provisional) from 123.7 (Provisional) for the previous month due to higher prices of other rubber tubes (8%), bus/truck tyre and tractor tyre (4% each), cab/car tyre (3%), foot ball and polyester film (2% each) and plastic components / accessories, rubber transmission belt, other rubber products and cycle / rickshaw tube (1% each). However, the prices of plastic/pvc pipe (4%) and hdpe bag (1%) declined.

The index for ?Chemicals & Chemical Products? group rose by 0.1 percent to 122.3 (Provisional) from 122.2 (Provisional) for the previous month due to higher prices of polyol (6%), phenol or phenol extract (4%), additives (3%) and shampoo, fatty alcohol, lime & calcium carbonate, hair dye, essence/flavour used in food products and polymers (1% each).

However, the prices of alumina & aluminium salt (2%) and bleaching powder, adhesive & gum and synthetic resin (1 % each) declined.

The index for ?Non-Metallic Mineral Products? group declined by 0.4 percent to 144.6 (Provisional) from 145.2 (Provisional) for the previous month due to lower prices of grey cement (1%). However, the prices of hume pipes & spun pipes (3%) and glass bottles & bottleware (1%) moved up.

The index for ‘Basic Metals, Alloys & Metal Products’ group rose by 0.1 percent to 133.1 (Provisional) from 133.0 (Provisional) for the previous month due to higher prices of non-ferrous casting & forging (5%), silver and melting scrap (2% each) and aluminium & alloys, aluminium coils/rolls, sponge iron, non ferrous alloys, aluminium ingots, angles, rounds and wire rods (1% each). However, the prices of billets (4%), iron castings (2%) and welded pipe, pig iron and ferro manganese (1% each) declined.

The index for ‘Machinery & Machine Tools’ group declined by 0.1 percent to 120.4 (Provisional) from 120.5 (Provisional) for the previous month due to lower prices of food/ beverages/tobacco processing machinery (3%) and industrial valves and ball/roller bearing (2% each). However, the prices of electric connectors / plugs /sockets/holders (5%), lathes (3%) and ups / stabilizer and textile machinery (1%) moved up.