WPI Inflation In May Dips To -3.48 Pc As Against -0.92 Pc In April – Details
Updated Jun 14, 2023 | 12:48 PM IST
The annual rate of inflation based on all India Wholesale Price Index (WPI) number dipped further to (-) 3.4 percent (Provisional) for the month of May. (Pic-Pixabay)
Month over Month Change in Major Groups of WPI
- Primary Articles (Weight 22.62 per cent): The index for this major group declined by 1.13 per cent to 175.3 (provisional) in May 2023 from 177.3 (provisional) for April 2023. Prices of Minerals (0.90 per cent) increased in May 2023 as compared to April 2023. Prices of Food Articles (-0.22 per cent), Non-food Articles (-1.87 per cent) and Crude Petroleum & Natural Gas (-7.81 per cent) declined in May 2023 as compared to April 2023.
- Fuel & Power (Weight 13.15 per cent): The index for this major group declined by 2.62 per cent to 148.6 (provisional) in May 2023 from 152.6 (provisional) for April 2023. Prices of Coal (-0.67 per cent), Mineral Oils (-2.01 per cent), and Electricity (-5.46 per cent) declined in May 2023 as compared to April 2023.
- Manufactured Products (Weight 64.23 per cent): The index for this major group has declined by 0.35% to 140.7 (provisional) in May 2023 from 141.2 (provisional) for April 2023. Out of the 22 NIC two-digit groups for Manufactured products, 7 groups have witnessed an increase in prices, whereas 11 groups have witnessed a decrease in prices. The groups that have recorded major increase in prices are electrical equipment; pharmaceuticals, medicinal, chemical, and botanical products; tobacco products; wood and products of wood & cork; leather and related products; beverages, etc. Some of the groups that have witnessed a decrease in prices are basic metals; food products; textiles; chemical and chemical products, other manufacturing, etc. in May 2023 as compared to April 2023.
- WPI Food Index (Weight 24.38 per cent): The Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Product' from Manufactured Products group has decreased from 173.6 in April 2023 to 172.8 in May 2023. The rate of inflation based on the WPI Food Index decreased from 0.17 per cent in April 2023 to (-) 1.59 per cent in May 2023.
- Final index for March 2023 (Base Year: 2011-12=100): For March 2023 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 151.0 and 1.41 per cent respectively.
- Response Rate: The WPI for May 2023 has been compiled at a weighted response rate of 89.8 per cent, while the final figure for March 2023 is based on the weighted response rate of 92 per cent.
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