The Central Statistics Office (CSO) today presented India’s Wholesale Price Index (WPI) Inflation for the month of August 2018, where it stood at 4.53% compared to 5.09% of July 2018. However, WPI was higher compared to 3.24% rate recorded in the similar month of previous year. With this, duild up inflation rate in the financial year so far was 3.18% compared to a build up rate of 1.41% a year ago same month.
The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of August, 2018 rose by 0.3% to 120.0 (provisional) from 119.7 (provisional) for the previous month.
The index for primary articles which accounts about 22.62% of WPI, rose by 0.1% to 135.1 (provisional) from 134.9 (provisional) for the previous month.
Index for ‘Food Articles’ group rose by 0.1 percent to 144.8 (provisional) from 144.7 (provisional) for the previous month due to higher price of gram (6%), moong, ragi and bajra (4% each), urad, barley, wheat and tea (3% each), coffee, jowar and masur (2% each) and maize and rajma (1% each).
Going ahead, the index for fuel & power group rose by 0.5 percent to 104.9 (provisional) from 104.4 (provisional) for the previous month. Under this, the index for ‘Mineral Oils’ group rose by 0.8 percent to 98.3 (provisional) from 97.5 (provisional) for the previous month due to higher price of LPG (5%), petroleum coke (3%), kerosene and ATF (2% each) and naphtha and bitumen (1% each).
Moreover, the manufacturing product index rose by 0.3 percent to 117.8 (provisional) from 117.4 (provisional) for the previous month.
In WPI, fuel & power holds weightage of 13.15%, while manufacturing has highest impact on the economic indicator by having 64.23% weightage.
Rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from -0.86% in July, 2018 to -2.25% in August, 2018.
For the month of June, 2018, the final WPI for ‘All Commodities’ (Base: 2011-12=100) stood at 119.1 as compared to 119.2 (provisional) and annual rate of inflation based on final index stood at 5.68 percent as compared to 5.77 percent (provisional) respectively as reported on 16.07.2018.