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Wholesale Price Index-WPI (Base:2004-05=100)

WPI

The Base year for calculation of Wholesale Price Index has been changed from 1993-94 to 2004-05. No. of Items under primary articles has been increased from 98 to 102 & manufactured items from 318 to 555 while the no. of items under Fuel & Power remains unchanged at 19 while shifting the base from 1993-94 to 2004-05. Total no. items changed from earlier 435 to now 676. Out of this, 259 items remained unchanged, 176 items were dropped and 417 new items were added. In Primary articles, 91 items were unchanged,7 dropped,11 new items were added while in manufactured articles, 149 remained unchanged, 169 items were dropped, 406 items were added. In fuel & power, all 19 items remained as such without any addition or deletion.

   Inflation data is calculated on the basis of Wholesale Price Index. RBI takes into account the inflation data, GDP growth and Current Account Deficit(CAD) as a % of GDP in order to formulate its Monetary and Credit Policy.          (OEA site)

Sector Wt.

SECTOR WT(%) WT(%) Intra-sector Wt%

 

 
  2004-05 1993-94 2004-05  
ALL COMMODITIES 100 100    
PRIMARY ARTICLES 20.12 22.03 100  
Food article 14.34 15.40 71.272  
Non-food article 04.26 06.14 21.173  
Mineral 01.52 00.49 07.555  
FUEL & POWER 14.91 14.23 100  
Coal 02.09 01.75 14.017  
Mineral Oil 09.36 06.99 62.777  
Electricity 03.46 05.49 23.206  
MANUFACTURED ARTICLES 64.97 63.75 100  
Food products 09.97 11.54 15.345  
Beverages,tobacco & tobacco prod. 01.76 01.34 02.709  
Textiles 07.33 09.80 11.282  
Wood & Wood products 00.59 00.17 00.908  
Paper & paper products 02.03 02.04 03.125  
Leather & leather products 00.84 01.02 01.293  
Rubber & plastic products 02.99 02.39 04.602  
Chemical & chemical products 12.02 11.93 18.501  
Non-metallic mineral products 02.56 02.52 03.940  
Basic metals,alloys & metal products 10.74 08.35 16.530  
Machinery & machinery tools 08.93 08.36 13.746  
Transport, equipment & parts 05.21 04.29 08.019  
         

 

Month wise WPI data -all commodities

 (Base:2004-05=100)

Year Jan Feb Mar April May June July Aug. Sept Oct Nov Dec
2015                        
2014 179 179.5 180.3 180.8 181.7 182.6            
Year Jan Feb Mar April May June July Aug. Sept Oct Nov Dec
2013 170.3 170.9 170.1 171.3 171.4 173.2 175.5 179 179.7 180.3 181.5 179.2
2012 158.7 159.3 161.0 163.5 163.9 164.7 165.8 167.3 168.8 168.5 168.8 168.8
2011 148.0 148.1 149.5 152.1 152.4 153.1 154.2 154.9 156.2 157.0 157.4 157.3
2010 135.2 135.2 136.3 138.6 139.1 139.8 141.0 141.1 142.0 142.9 143.8 146.0

 

WPI Figures are  available on monthly and not weekly basis, around second week of the month. Reporting  commenced from November 12, 2009. However, Index data on Primary articles & Fuel products will be announced on weekly  basis. Inflation figures which are based on WPI shall also follow suit.

Index Calculation as per Laspeyres Formula

I =Σ( Ii *Wi ) / ΣWi  

 where Wi is the weight  per cent and Ii is the index.

Month wise WPI data -Primary Articles

 (Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015                        
2014 238.8 238.5 239.4 242.4 246.8 249.9            
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 223.6 224.4 223.1 226.5 227.3 233.9 240.3 251.9 251.6 251.6 256.3 243.6
2012 200.7 203 207.8 215.6 215 215 219.1 221.8 221.6 219.4 221.1 219.9
2011 195.3 189.6 188.2 196.8 194.9 195.9 198.2 199.4 202.9 203.5 201.8 198.9
2010 164.9 163.6 165.9 171 172.6 176 177.8 177.3 180.8 183.4 185.3 192

 

Month wise WPI data -Fuel & Power

 (Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015                        
2014 212.80 212.60 213.10 211.0 212.10 212.30            
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 193.4 195.5 191.6 193.7 191.9 194.7 199.9 204.7 207.5 209.4 209.6 211.3
2012 177 176.7 177.8 178.8 178.9 181.1 179.5 181.7 188.5 189.8 188.7 190.4
2011 151.3 153.5 157.6 159.5 160.4 161.6 165.6 167.1 168.3 170 171.6 172.7
2010 135.8 136.6 140.1 141.1 142.8 143.2 147.8 148 147.6 148.1 148.6 150.2

 

Month wise WPI data -Manufactured Products

 (Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015                        
2014 152.60 152.70 153.50 153.80 154.60 154.90            
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 148.5 148.6 148.7 149.1 149.3 149.5 149.9 150.6 151 151.6 151.9 151.9
2012 141.5 141.8 142.6 143.8 144.6 145.3 146.1 147.2 148 147.9 148 148
2011 132.6 134 135.6 136.6 137.4 137.9 138 138.4 139 139.6 140.4 140.9
2010 125.9 126.1 126.2 127.9 127.9 127.8 128.1 128.3 128.7 129.2 129.8 130.9

 

Month wise WPI data -Food Articles, subgroup of Primary articles

 (Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015 000 000 000 000 000 000 000 0000 0000 0000 0000 0000
2014 233.7 232.5 234.6 239 244.3 249.7 000 000 000 000 000 000
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 214.7 215.4 214.3 219.8 223.1 230.9 238.5 252.4 252.3 251.7 255.9 240.2
2012 191.1 192.4 197.1 207.2 206.1 209.4 212.4 211.8 213.1 212.7 213.8 211.2
2011 192.4 181.3 179 186.8 186.3 188.8 192.8 193.7 197.2 199.3 196.5 190.9
2010 164.9 163.4 163.6 168.8 172.1 175.4 178.2 176.7 179.9 180.9 181.4 189.4

 

Inflation Data & Analysis

Inflation rate (or Headline Inflation ) is calculated in India as the % change in Wholesale Price Index (WPI) of all commodities over a particular period. Normally it is computed on Year-to-Year (YoY) basis.

Example-- Inflation rate during April,2013(index was 171.5) with respect to April 2012(index was 163.5) is 4.89%.

Core Inflation is defined as that component of Headline Inflation which is arrived at by eliminating the volatile components of the latter. Core inflation is also considered as a Demand Side Pressure on the economy and therefore assumes extra significance and the Central Banks formulate their monetary policies so as to contain/stabilize the core inflation. Reserve Bank of India considers the index for Non-Food Manufactured Articles as the measure of core inflation.

Another Index has been coined to measure food inflation. It is called Food Price Index (FPI) which is calculated as the weighted average of the price indices of both the food articles (primary food) and food products (under manufactured articles ) and we also study a sub- component of food price index, the food articles’ price index. The objective is to decipher all possible triggers of an inflation measure most relevant to the country’s poor, namely food inflation. Studies indicate that 3 factors contribute almost 98% to food inflation. These are -- ballooning fiscal deficit, rising farm income and transmission of global food inflation.

*The May,2013 figure of inflation data showed that it declined to a three-and-a-half year low of 4.58%.

Inflation Data- Headline Inflation

(Base:2004-05=100)

( Annual rate of inflation based on monthly WPI )

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015                        
2014 -0.11 0.28 0.45 0.28 0.50 0.50            
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 6.62 7.28 5.65 4.77 4.58* 5.16 5.85 6.99 6.46 7.00 0.67 -1.27
2012 7.23 7.56 7.69 7.5 7.55 7.58 6.87 7.55 8.07 7.45 7.24 7.18
2011                        
2010                        

Inflation Data- Primary Articles

 (Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015                        
2014 -1.97 0.13 0.38 1.25 1.81 1.26            
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 11.41 10.54 7.36 5.06 5.72 8.79 5.68 13.57 13.54 14.68 1.87 -4.96
2012 2.76 7.07 10.41 9.55 10.31 9.75 10.54 11.23 9.22 7.81 9.56 10.56
2011 18.43 15.89 13.44 15.09 12.92 11.31 11.47 12.46 12.22 10.96 8.90 3.59
2010                        

Inflation Data- Food Articles

 (Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015                        
2014 -2.71 -0.51 0.90 1.88 2.22 2.21            
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 12.35 11.95 8.73 6.08 8.25 10.27 12.29 19.17 18.39 18.19 1.67 -6.13
2012 (-)0.67 6.12 10.11 10.92 10.63 10.91 10.17 9.34 8.06 6.72 8.80 10.63
2011 16.68 10.95 9.41 10.66 8.25 7.64 8.19 9.62 9.62 10.17 8.32 0.79
2010                        

Inflation Data-Non-food Articles

 (Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015 000 000 000 000 000 000 000 000 000 000    
2014 0.32 0.78 (-)0.18 -0.37 0.87 -1.10 000 000 000 000 000 000
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 13 10.71 9.32 7.59 4.88 7.73 5.71 1.20 5.17 6.79 1.60 -0.32
2012 0.71 (-)2.5 (-)0.78 1.40 8.57 7.18 13.34 14.08 10.43 11.43 14.04 13.56
2011 26.6 34.36 27.35 26.86 21.42 18.44 15.77 18.20 14.57 7.40 3.4 1.82
2010                        

Inflation Data-Minerals

(Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015 000 000 000 000 000 000 000 000 000 000    
2014 -1.55 0.72 -1.73 0.03 0.84 -0.83 000 000 000 000 000 000
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 4.03 2.79 (-)1.95 (-)4.52 (-)7.03 1.32 0.47 1.99 (-)0.03 7.03 -0.79 0.59
2012 30.73 32.31 34.48 15.91 10.31 7.58 8.65 18.12 13.87 8.63 6.88 5.57
2011 16.12 17.72 15.2 23.56 29.57 23.41 25.84 21.54 26.09 22.66 22.53 25.79
2010                        

Inflation Data-Fuel & Power

 (Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015 000 000 000 000 000 000 000 000 000 000    
2014 0.61 0.09 0.75 -1.12 0.14 0.09 000 000 000 000 000 000
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 9.27 10.64 7.76 8.33 7.27 7.51 11.36 12.66 10.08 10.33 -0.09 0.72
2012 16.99 15.11 12.82 12.10 11.53 12.07 8.39 8.74 12 11.65 9.97 10.25
2011 11.41 12.37 12.49 13.04 12.32 12.85 12.04 12.90 12.04 14.79 15.48 14.98
2010                        

Inflation Data-Manufactured Products

(Base:2004-05=100)

Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2015 000 000 000 000 000 000 000 000 000 000    
2014 0.26 0.46 0.39 0.26 000 0.19 000 000 000 000 000 000
Month/Year Jan Feb March April May June July August Sept Oct Nov Dec
2013 4.95 4.80 4.28 3.69 3.25 2.89 2.60 2.31 2.03 2.50 0.13 0.13
2012 6.71 5.82 5.16 5.27 5.24 5.37 5.87 6.36 6.47 6.95 5.41 5.04
2011 5.32 6.26 7.45 6.80 7.43 7.90 7.73 7.87 8 8.05 8.17 7.64
2010                        
 

 

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