The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing index numbers of wholesale price in India for the month of November, 2020 (Provisional) and for the month of September, 2020 (Final) in this press release. Provisional figures of Wholesale Price Index (WPI) are released on 14th of every month (or next working day) with a time lag of two weeks of the reference month and compiled with data received from institutional sources and selected manufacturing units across the country. After 10 weeks, the index is finalized and final figures are released and then frozen thereafter.
The rate of inflation, based on monthly WPI, stood at (1.55%) (provisional) for the month of November, 2020 (over November, 2019) as compared to 0.58% during the corresponding month of the previous year.
All Commodities/Major Groups
|Sep-20 (F)||Oct-20 (P)||Nov-20 (P)|
|I PRIMARY ARTICLES||22.6||148.8||4.06||152.4||4.74||151.2||2.72|
|II FUEL & POWER||13.2||91.9||-8.65||91.1||-10.95||91.3||-9.87|
|III MANUFACTURED PRODUCTS||64.2||120.1||1.87||120.3||2.12||121.3||2.97|
Note: P: Provisional, F: Final, * Rate of Inflation calculated over corresponding month of last year.
The movement of the index for the various commodity group is summarized below:-
PRIMARY ARTICLES (Weight 22.62%)
The index for this major group declined by (-0.79%) to 151.2 (provisional) in November, 2020 from 152.4 (provisional) for the month of October, 2020. Prices of Non-food Articles (6.17%) increased in November, 2020 as compared to October, 2020. Prices of Minerals (-13.19%), Crude Petroleum & Natural Gas (-11.11%) and Food Articles (-0.82%) declined in November, 2020 as compared to October, 2020.
FUEL & POWER (Weight 13.15%)
The index for this major group increased by (0.22%) to 91.3 (provisional) in November, 2020 from 91.1 (provisional) for the month of October, 2020. Prices of Mineral Oils (0.39%) and Coal (0.08%) increased in November, 2020 as compared to October, 2020. Prices of electricity remain unchanged.
MANUFACTURED PRODUCTS (Weight 64.23%)
The index for this major group increased by (0.83%) to 121.3 (provisional) in November, 2020 from 120.3 (provisional) for the month of October, 2020. Out of the 22 NIC two-digit groups for Manufactured products, 18 groups that have witnessed increase in prices are manufacture of food products; beverages; tobacco products; textiles; wearing apparel; leather and related products; wood and of products of wood and cork; paper and paper products; chemicals and chemical products; pharmaceuticals, medicinal chemical and botanical products; rubber and plastics products; basic metals; other non-metallic mineral products; fabricated metal products, except machinery and equipment; electrical equipment; motor vehicles, trailers and semi-trailers; other transport equipment; other manufacturing; in November, 2020 as compared to October, 2020. Whereas 3 groups that have witnessed decrease in prices are manufacture of machinery and equipment; computer, electronic and optical products; printing and reproduction of recorded media in November, 2020 as compared to October, 2020. While the Manufacture of furniture remain unchanged in November, 2020 as compared to October, 2020.
WPI FOOD INDEX (Weight 24.38%)
The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group have decreased from 159.3 in October, 2020 to 158.9 in November, 2020. The rate of inflation based on WPI Food Index decreased from 5.78% in October, 2020 to 4.27% in November, 2020.
FINAL INDEX FOR THE MONTH OF SEPTEMBER, 2020 (BASE YEAR:2011-12=100)
For the month of September, 2020 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 122.9 and 1.32% respectively.