WPI up by 1.1 percent from June, inflation at 1.88 percent

The Wholesale Price Index (WPI) for all commodities for the month of July 2017 registered a 1.1 percent surge from June, and was recorded at 113.9 (provisional) from 112.7 (provisional) for the previous month.

The numbers registered the annual rate of inflation, based on monthly WPI, stood at 1.88 percent (provisional) for the month of July, 2017, as compared to 0.90 percent (provisional) for the previous month and 0.63percent during the corresponding month of the previous year.

Build up inflation rate in the financial year so far was 0.62 percent, compared to a build up rate of 3.81 percent in the corresponding period of the previous year

The index for the 'Food Articles' group rose by 6.2 percent to 147.6 (provisional) from 139.0 (provisional) for the previous month, owing to higher price of fruits and vegetables (29 percent), peas (six percent), ragi (four percent) and condiments and spices, barley, poultry chicken and paddy at one percent each.

However, the price of betel leaves, tea, arhar, fish and jowar declined by 21 percent, five percent, four percent and one percent respectively.

In the 'Non-Food Articles' group, the index rose by 0.6 percent, at 118.5 (provisional) from 117.8 (provisional) for the previous month, due to higher price of raw rubber (eight percent), safflower (four percent) and castor seed (one percent).

However, the price of groundnut seed, raw silk and jute and sesamum declined by four percent, three percent and one percent respectively.

The index for 'Crude Petroleum and Natural Gas' group declined by 7.8 percent to 64.0 (provisional) from 69.4 (provisional) for the previous month due to an 11 percent decline in the price of crude petroleum.

The index for 'Manufacture of Tobacco Products' group declined by 0.5 percent to 143.6 (provisional) from 144.3 (provisional) for the previous month due to lower price of other tobacco products by three percent. However, the price of cigarette surged by two percent.

The index for 'Manufacture of Textiles' group declined by 0.3 percent to 113.4 (provisional) from 113.7 (provisional) for the previous month due to lower price of viscose yarn, manufacture of cordage, rope, twine and netting and woollen yarn, cotton yarn and manufacture of other textiles. However, the price of manufacture of knitted and crocheted fabrics was up by two percent.

The index for 'Manufacture of Wearing Apparel' group rose by 2.1 percent to 136.0 (provisional) from 133.2 (provisional) for the previous month due to higher price of manufacture of wearing apparel.

On the contrary, the index for 'Manufacture of Leather and Related Products' group declined by 0.3 percent to 119.5 (provisional) from 119.9 (provisional) for the previous month due to lower price of canvas shoes, chrome tanned leather, harness, saddles and other related items and gloves of leather.

However, the price of belt and other articles of leather saw a surge by three percent.