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WPI inflation dips to 10-month low of 2.8% in January 2019

Capital Market 

Core dips to 2.9% in January 2019

The (WPI)-based inflation, base year 2011-12, dipped to 10-month low of 2.8% in January 2019, exhibiting sharp decline for third straight month from 5.5% in October 2018. The declined sharply for fuel and manufactured group contributing to the dip in overall WPI in January 2019, while the inflation for primary articles accelerated for second straight month. The (manufactured excluding foods products) has declined to 2.9% in January 2019.

The WPI inflation is revised downwards to 4.5% for November 2018 from 4.6% reported earlier.

Inflation of primary articles increased to 3.5% in January 2019 from 2.3% in December 2018. The manufactured inflation dipped to 2.6%, while fuel and power group inflation plunged to 1.8% in January 2019.

As per major commodity group-wise, inflation dipped for mineral oils, basic metals, crude petroleum & natural gas, electricity, and chemical products, coal, other manufacturing, and equipment, fibres, textiles, fabricated metal products, fruits, and reproduction of recorded media, paper and On the other hand, inflation of wearing apparel, floriculture, eggs, meat & fish, pharmaceuticals, and botanical products, pulses, food products, metallic minerals, vegetables etc moved up in January 2019.

Inflation of (and food products) increased to 1.8% in January 2019 from 0.1% in December 2018 level. Meanwhile, inflation of non-(all commodities excluding food items) plunged to 3.1% in January 2019 in 5.3% in December 2018.

The contribution of primary articles to the overall inflation of 2.8% increased to 90 basis points (bps) in January 2019, up from contribution of 59 bps to 3.8% in December 2018. The contribution of group dipped to 20 bps against 91 bps in December 2018, while that of manufactured products eased to 166 bps in January 2019 from 228 bps in December 2018.

The contribution of (and food products) to inflation jumped to 53 bps to 2.8% in January 2019 compared with 02 bps to 3.8% in December 2018. Meanwhile, the contribution of (all commodities excluding food items) declined to 222 bps in January 2019 from 377 bps in December 2018.

The WPI inflation stood at 4.6% in April-December FY2019 against 3.0% in April-December FY2018. The primary articles inflation moved up to 2.5% in April-December FY2019 from 1.5% in April-December FY2018, while fuel products inflation increased to 13.4% from 8.9%. The inflation for manufactured products rose to 3.9% in April-December FY2019 from 2.7% in April-December FY2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 14 2019. 13:55 IST