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Monday, February 26 2024

India’s May WPI Food inflation eases to 2.31%

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Indias May WPI Food inflation eases to 2p31pc finalNew Delhi: India’s annual WPI Food Index eased to 2.31 per cent in May from a rise of 3.60 per cent in April, official data showed on Monday.

However, the Centre did not release the complete set of WPI figures for May, due to the Covid-19 outbreak and its impact on data collection.

Besides, the data showed that overall WPI recorded a fall of (-) 3.21 per cent in May 2020 from 0.42 per cent rise in March.

In a note, the Office of Economic Adviser, Department for Promotion of Industry and Internal Trade said: “Due to limited information available for the month of April 2020, the provisional figures of May 2020 are compared with final figures of March 2020.”

“The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of May 2020 declined by (-2.24 per cent) to 117.7 (provisional) from 120.4 (Final) for the month of March 2020.”

On a sequential basis, the expenses on primary articles, which constitute 22.62 per cent of the WPI’s total weightage, declined (-) 2.92 per cent in May from (-) 0.79 per cent in April.

“The index for this major group declined by (-0.87 per cent) to 136.2 (provisional) in May 2020 from 137.4 (final) for the month of March 2020,” the statement said.

“Prices of ‘Food Articles’ (0.73 per cent) increased whereas prices of ‘Crude Petroleum & Natural Gas’ (-23.18 per cent) and ‘Non-Food Articles’ (-1.44 per cent) declined as compared to March 2020.”

Furthermore, manufactured products’ WPI showed a decline of (-)0.42 per cent in May from 0.25 per cent in March.

The statement further said: “The index for this major group declined by (-0.42 per cent) to 118.1 (provisional) in May 2020 from 118.6 (final) for the month of March 2020.”

As per the statement, out of the 22 NIC two-digit groups for ‘Manufactured’ products, 10 groups that have witnessed an increase in prices are manufacture of beverages; tobacco products; wearing apparel; leather and related products; wood and of products of wood and cork; paper and paper products; pharmaceuticals, medicinal chemical and botanical products; other non-metallic mineral products; motor vehicles, trailers and semi-trailers and other transport equipment.

“Whereas the groups that witnessed a decrease in prices were the manufacture of food products; textiles; printing and reproduction of recorded media; chemicals and chemical products; rubber and plastics products; manufacture of basic metals; fabricated metal products, except machinery and equipment; computer, electronic and optical products; electrical equipment; machinery and equipment as compared to March 2020,” the statement said.

The cost of the fuel and power category declined (-)19.83 per cent in May against a fall of (-)10.12 per cent in April and (-) 2.93 per cent in March.

Product-wise, the price of high-speed diesel declined (-)30.02 per cent on a YoY basis, petrol deflated (-) 27.89 per cent and LPG (-) 28.63 per cent.


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