ADVERTISEMENT

India's inflation rate dips to 7.45% in October 2012

ADVERTISEMENT

India's headline annual inflation rate, based on the monthly Wholesale Price Index (WPI), dipped to 7.45 per cent for October 2012, as compared to 7.81 per cent for the previous month and 9.87 per cent in the corresponding month of the previous year, an official statement said here today, quoting provisional data.

The statement said the official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05 = 100) for October, 2012 rose by 0.2 per cent to 168.7 from 168.4 for the previous month.
 
The build-up of inflation in the financial year so far was 4.78 per cent as compared to a build-up of 5.02 per cent in the corresponding period of the previous year, it said.
 
Food inflation in Primary Articles rose to 8.21 per cent from 7.86 per cent in September, while it went up marginally to 9.82 per cent in Manufactured Products from 9.76 per cent in the previous month.
 
Inflation in the Fuel and Power Group declined slightly to 11.71 per cent from 11.88 per cent in the previous month.
 
The index for Primary Articles, which have a weight of 20.12 per cent in the WPI, declined by 0.2 per cent to 220.2 from 220.7 for the previous month.  
 
Within this group, the index for ‘Food Articles’ declined by 0.1 per cent to 212.5 from 212.7  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’ declined by 2.3 per cent to 197.7 from 202.4 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.
ADVERTISEMENT
 
The index for ‘Minerals’ rose by 2.4 per cent to 355.8 from 347.6 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.
 
The index for Fuel & Power, which have a weight of 14.91 per cent in the WPI, rose by 0.8 per cent to 189.9 from 188.3 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.
 
In the case of Manufactured Products, which have a weight of 64.97 per cent in the WPI, the index rose by 0.1 per cent to 147.9 from 147.7 for the previous month. 
 
Within this important group, the index for ‘Food Products’ rose by 0.1 per cent to 166.7 from 166.5 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’ rose by 0.2 per cent to 175.6 from 175.2 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’ rose by 0.5 per cent to 131.6 from 130.9 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.
 
ADVERTISEMENT
The index for ‘Wood & Wood Products’ rose by 0.4 per cent to 171.7 from 171.1 for the previous month due to higher prices of processed wood and plywood & fibre board (1% each).
 
The index for ‘Paper & Paper Products’ rose by 0.2 per cent to 136.5 from 136.2 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’ declined by 0.6 per cent to 134.1 from 134.9 for the previous month due to lower prices of leather footwear and leathers (1% each).
 
The index for ‘Rubber & Plastic Products’ rose by 0.3 per cent to 137.9 from 137.5 for the previous month due to higher prices of rubber products (1%).
 
The index for ‘Chemicals & Chemical Products’ rose by 0.2 per cent to 144.1 from 143.8 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’ rose by 0.2 per cent to 164.8 from 164.5 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’ declined by 0.2 per cent to 166.8 from 167.2 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.
 
ADVERTISEMENT
The index for ‘Machinery & Machine Tools’ rose by 0.2 per cent to 128.5 from 128.3 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 pvc insulated cable, pump & assembly and ball/roller bearing (1% each) declined.
 
The index for ‘Transport, Equipment & Parts’ rose by 0.4 per cent to 130.1 from 129.6 for the previous month due to higher prices of shafts (all kinds) and bus/mini bus/truck (1% each), the provisional data showed.
 
The statement said that the final WPI for ‘All Commodities’ stood at 167.3 as compared to 166.6 (provisional) and, accordingly, the annual rate of inflation based on the final index stood at 8.01 per cent as compared to 7.55 per cent as reported on September 14, 2012.
 
NNN
ADVERTISEMENT

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <canvas>
  • Lines and paragraphs break automatically.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
© Copyright 2012 NetIndian. All rights reserved. Republication or redistribution of NetIndian content, including by framing or similar means, is expressly prohibited without the prior written consent of NetIndian Media Corporation. Write to info[AT]netindian[DOT]in for permission to use content. Read detailed Terms of Use.