Wholesale Price Index (WPI) inflation stood at 2.03% in January 2021, compared to 3.52% during the corresponding month of the previous year.
Primary articles which account for 22.62% weight in WPI, declined by (-1.77%) to 143.9 (provisional) in January 2021 from 146.5 (provisional) for December 2020. Prices of Crude Petroleum & Natural Gas (9.48%) and Minerals (2.67%) increased in January 2021 as compared to December 2020. Prices of Non-food Articles (-0.43%) and Food Articles (-2.99%) declined in January 2021 as compared to December 2020.
While fuel & power index which holds 13.15% weightage in WPI increased by (5.84%) to 99.7 (provisional) in January 2021 from 94.2 (provisional) for December 2020. Prices of Electricity (11.49%) and Mineral Oils (5.55%) increased in January 2021 as compared to December 2020. Prices of coal remain unchanged.
Manufacturing products index which holds 64.23% weightage in WPI, increased by (1.54%) to 124.9 (provisional) in January 2021 from 123.0 (provisional) for December 2020. Out of the 22 NIC two-digit groups for Manufactured products, 18 groups that have witnessed an increase in prices are manufacture of furniture; other transport equipment; motor vehicles, trailers and semi-trailers; machinery and equipment; electrical equipment; computer, electronic and optical products; fabricated metal products, except machinery and equipment; basic metals; rubber and plastics products; pharmaceuticals, medicinal chemical and botanical products; chemicals and chemical products; paper and paper products; wood and of products of wood and cork; wearing apparel; textiles; tobacco products; beverages; food products in January 2021 as compared to December 2020.
While under manufacturing products, 4 groups that have witnessed a decrease in prices are manufacture of other manufacturing; other non-metallic mineral products; printing and reproduction of recorded media; leather and related products in January 2021 as compared to December 2020.
The Food Index consisting of 'Food Articles' from the Primary Articles group and 'Food Product' from the Manufactured Products group has decreased from 154.4 in December 2020 to 151.8 in January 2021. The rate of inflation based on WPI Food Index decreased from 0.92% in December 2020 to -0.26% in January 2021. The index accounts for 24.38% weightage in WPI.
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