India’s Wholesale inflation varies slightly at 2.47% in March

The Wholesale Price Index (WPI) – oriented inflation came in at 2.47 percent for March 2018, underneath desires of the market. This most recent WPI inflation print is the least since July 2017. In February this year, WPI inflation had come in at 2.48 %

It might be reviewed that WPI had come in at 5.11 % in March a year ago.

In the meantime, Produced products inflation for March 2018 approached in at 3.03% lower than 3.22 % around the same time a year ago. Food items inflation contracted in March 2018 at 0.29%

In the mean time, the WPI for January 2018 has been amended upwards to 3.02 % from a level of 2.84 percent (temporary) prior.

Development of inflation rate in the money related year so far was 2.47 % contrasted with a development rate of 5.11 % in the comparing time of the earlier year.

The inflation rate for the essential articles gathering, which has a weight of 22.62 % in the discount value list, decreased by 0.5 % in March 2018.

Among essential articles, the inflation rate for the ‘food items decreased by 0.4 % because of lower costs of egg, gram, tea, coffee, poultry chicken and toppings and flavors, rajma, angle, Masur, bajra, leafy foods, hamburger and bison meat. In any case, the costs of ragi, jowar, angle (fish), peas/Chawla, moong, betel leaves, wheat, paddy, and pork climbed.

Inflation for ‘non-food items’ group decreased by 0.3 %in March 2018 because of lower costs of guar seed, niger seed, horticulture, raw cotton, cottonseed, skins (crude), gingelly seed, copra (coconut), linseed, castor seed, crude jute, groundnut seed, assault and mustard seed. Be that as it may, the costs of crude silk, mesta, sunflower, soybean, grub and crude fleece, coir fiber and raw rubber moved up

The inflation rate for natural gas and raw petrol decreased by 0.5 %because of lower costs of unrefined petroleum

For the ‘fuel and power’, which has a weight of 13.15 %in WPI, it decreased by 0.1 %in March 2018.

The inflation rate for the ‘mineral oils’ decreased by 1.4 %because of lower costs of LPG, naphtha, HSD, bitumen, petroleum and furnace oil. Nonetheless, the cost of oil coke and kerosene climbed.

For the electricity inflation rate rose 2.9 % because of higher costs of power.

The inflation rate for the ‘manufactured items’ which has a weight of 64.23 % in the WPI, rose 0.4 %in March 2018.

For the textile materials, it rose 0.4 % because of higher costs of a thick yarn, sewed and knitted textures, manufactured yarn and weaving and completing of materials. Be that as it may, the cost of cordage, rope, twine, and netting and texturized and bent yarn decreased.

For the ‘minerals’ inflation rate decreased by 2.0 %in March 2018 because of lower costs of copper think and phosphorite. Be that as it may, the costs of iron metal, chromite, manganese metal, limestone, zinc, and lead incremented

For the apparel inflation rate decreased by 0.9 %because of lower costs of wearing clothing (woven aside from hiding attire) and weaved and stitched attire.

Inflation rate for the ‘rubber and plastics products’

Inflation rate for the ‘rubber and plastics products’ group rose 0.5 percent due to higher prices of V belt, rubber components and parts, plastic box/container, rubber moulded goods, plastic film, elastic webbing and condoms and rubber crumb, plastic tape, plastic bag, plastic bottle, plastic button, acrylic/plastic sheet, toothbrush and thermocol. However, the prices of rubber tread, rubber cloth/sheet, tractor tyre, medium and heavy commercial vehicle tyres and conveyer belts (fibre based) and 2 – 3 wheeler tyres, polypropylene film, plastic components, plastic tank, plastic furniture, polythene film, processed rubber, rubberised dipped fabric and motor car tyre decreased.

For ‘other non-metallic mineral products’ group, it decreased by 0.5 percent due to lower prices of toughened glass, graphite rod, clinker, porcelain crockery and fiberglass, granite, ordinary Portland cement, pozzolana cement, porcelain sanitary ware, lime, and calcium carbonate. However, the prices of plain bricks, ordinary sheet glass, ceramic tiles (vitrified tiles) and cement superfine, nonceramic tiles, slag cement marble slab, railway sleeper, cement blocks (concrete), ophthalmic lens and stone, chip moved up.

For the ‘paper and paper products’ inflation rate is incremented by 0.8% due to superior prices of a paper bag, as well as craft paper bag, duplex paper, newsprint and paper carton/box and map litho paper and laminated plastic sheet. However, the price of cardboard, base paper, and kraft paper and corrugated paperboard decreased.

Inflation rate in metal equipment sector

Inflation rate for the ‘fabricated metal products, except machinery and equipment’ group rose 0.4 percent due to higher prices of sanitary fittings of iron and steel, hand tools, steel drums and barrels, steel container and steel pipes, tubes and poles, jigs and fixtures, bolts, screws, nuts and nails of iron and steel. However, the prices of forged steel rings, iron/steel cap and electrical stamping (laminated or otherwise), copper bolts, screws, nuts, aluminum utensils, stainless steel utensils, metal cutting tools and accessories and pressure cooker decreased.

Inflation rate for the ‘computer, electronic and optical products’ group decreased by 0.3 percent due to lower prices of x-ray equipment, color TV, UPS in solid state drives and capacitors. However, the prices of the electronic printed circuit board (PCB)/micro circuit, meter (non-electrical) and microscope moved up.

For the ‘chemical products’ inflation rate is increased by 0.2 percent due to higher prices of hydrogen peroxide, aniline (including PNA, ONA, OCPNA),  gelatine, organic surface active agent, plasticizer, carbon black, sodium silicate, acetic acid and its derivatives, catalysts, toothpaste/tooth powder, nitric acid, hair oil/body oil, polyester chips or polyethylene terephthalate (PET) chips, insecticide and pesticide, di-ammonium phosphate,. However, the costs of sulphuric acid and creams and lotions for peripheral application, caustic soda (rubber chemicals and polypropylene (PP) and polyethylene, fungicide, liquid, ethyl acetate, amine, phosphoric acid, fatty acid, detergent cake, washing soap cake/bar/powder, organic chemicals, alcohols, monoethyl glycol, printing ink and polystyrene, expandable decreased.

Among manufactured  items, the documentation for the ‘food items’ group rose 1.0 %because of higher costs of prepared tea, vanaspati, palm oil, bison meat, new/solidified and rice grain oil, make of macaroni, noodles, couscous and comparative farinaceous items, nectar and cotton seed oil, rice items, wellbeing supplements, flavors (counting blended flavors), basmati rice, coffee powder with chicory, soyabean oil, wheat, sunflower oil, ghee, processed foods, animal feeds, dessert and chicken Notwithstanding, the costs of molasses, salt, condensed milk, and items thereof, gram powder (besan), meats (preserved and processed), groundnut oil, mustard oil, rice, non-basmati, rapeseed oil, powder drain, sooji (rawa), spread, sugar and copra oil decreased.

The inflation rate for the beverages incremented 0.4 %because of higher costs of lager and wine. Be that as it may, the cost of alcohol decreased.

Inflation rate in pharmaceutical sector

Inflation rate for the ‘pharmaceuticals, medicinal chemicals, and botanical products’ group rose 0.2 percent because of higher prices of vaccine for hepatitis-B, digestive enzymes, and antacids, anti-cancer drugs, antidiabetic drug, However, the prices of vaccine for polio and sulpha drugs, antioxidants, simvastatin, vials/ampoule, glass, empty or filled and antiseptics and disinfectants decreased.

Inflation rate for the ‘basic metals’ group rose 1.5 per cent due to higher prices of stainless steel pencil ingots/ billets/slabs, GP / GC sheets and pig iron, other ferro alloys, ferrochrome, hot rolled coils and sheets, including narrow strip and alloy steel wire rods, angles, channels, sections, steel (coated / not), cold rolled coils and sheets, including narrow strip, silicomanganese, MS wire rods, stainless steel bars and rods, including flats, mild steel blooms and ferrosilicon and ferromanganese, stainless steel coils, strips and sheets, galvanised iron pipes, stainless steel tubes, cast iron, castings, MS pencil ingots, aluminum foil, lead ingots, bars, blocks, plates and zinc metal/zinc blocks. However, the prices of aluminum disk and circles, alloy steel castings and steel cables and copper shapes – bars/ rods/ plates/strips, aluminum shapes-bars / rods/flats and aluminum ingot decreased.

The final wholesale price inflation rate for January 2018 based on the final wholesale price index for ‘all commodities’ stood at 3.02 percent against 2.84 per cent (provisional) as reported on 14 February.