Team News Riveting
New Delhi, November 14
The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 8.39 per cent (Provisional) for the month of October, 2022 (over October, 2021) against 10.70 per cent recorded in September, 2022.
Decline in the rate of inflation in October, 2022 is primarily contributed by fall in the price of mineral oils, basic metals, fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products; minerals etc.
Month over Month Change in Major Groups of WPI:
Primary Articles (Weight 22.62 per cent):- The index for this major group increased by 2.72 per cent to 181 (provisional) in October, 2022 from 176.2 (provisional) for the month of September, 2022. Prices of Crude Petroleum & Natural Gas (17.48 per cent) and Food Articles (2.03 per cent) increased in October, 2022 as compared to September, 2022. Prices of Non-food Articles (-0.53 per cent) and Minerals (-3.78 per cent) declined in October, 2022 as compared to September, 2022.
Fuel & Power (Weight 13.15 per cent):- The index for this major group declined by 1.65 per cent to 155.2 (provisional) in October, 2022 from 157.8 (provisional) for the month of September, 2022. Prices of Coal (2.60 per cent) increased in October, 2022 as compared to September, 2022. Prices of Mineral Oils (3.09 per cent) declined in October, 2022 as compared to September, 2022. Prices of electricity remain unchanged.
Manufactured Products (Weight 64.23 per cent):- The index for this major group declined by 0.42 per cent to 141.9 (provisional) in October, 2022 from 142.5 (provisional) for the month of October, 2022. Out of the 22 NIC two-digit groups for manufactured products, 6 groups that have witnessed an increase in prices while 14 groups have witnessed a decrease in prices. Index of 2 groups remained unchanged. The increase in price is mainly contributed by printing and reproduction of recorded media; other transport equipment; rubber and plastic products; pharmaceuticals, medicinal chemical and botanical products; computer, electronic and optical products etc.. Some of the groups that have witnessed decrease in prices are basic metals; fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products, motor vehicles, trailers and semi-trailers in October, 2022 as compared to September, 2022.
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 have increased from 175.2 in September, 2022 to 177.5 in October, 2022. The rate of inflation based on WPI Food Index decreased from 8.08 per cent in September, 2022 to 6.48 per cent in October, 2022.
Final index for the month of August, 2022 (Base Year: 2011-12=100): For the month of August, 2022 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 153.2 and 12.48 per cent respectively.
Response Rate: The WPI for October, 2022 have been compiled at a weighted response rate of 84.0 percent, while the final figure for August, 2022 is based on the weighted response rate of 90.0 percent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI.
