Inflation based on wholesale prices rose to 2.93% in Feb, 2019
New Delhi, Mar 15 (KNN) Inflation based on wholesale prices rose to 2.93% in February over the previous month due to hardening of prices of primary articles, fuel and power, according to government data released Thursday.
The Wholesale Price Index (WPI) based inflation stood at 2.76% in January, 2019.
WPI inflation stood at 2.74% during February 2018.
The index for manufacturing products rose by 0.2 %to 118.1 (provisional) from 117.9 (provisional) for the previous month.
The index for ‘Manufacture of Food Products’ group rose by 0.5 %to 128.7 (provisional) from 128.1 (provisional) for the previous month.
The index for ‘Manufacture of Textiles’ group rose by 0.2 %to 119.0 (provisional) from 118.8 (provisional) for the previous month due to higher price of weaving & finishing of textiles (1%). However, the price of texturized & twisted yarn, manufacture of cordage, rope, twine & netting and manufacture of other textiles (1% each) declined.
The index for ‘Manufacture of Leather and Related Products’ group declined by 0.5 %to 120.6 (provisional) from 121.2 (provisional) for the previous month due to lower price of chrome tanned leather, leather shoe, waterproof footwear and harness, saddles & other related items (1% each). However, the price of vegetable tanned leather (2%) and athletic/sport shoes (1%) moved up.
The index for primary articles has declined by 0.2 %to 134.2 (provisional) from 134.5 (provisional) for the previous month.
The index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 0.3 %to 125.9 (provisional) from 125.5 (provisional) for the previous month due to higher price of sulpha drugs (21%), vials/ampoule, glass, empty or filled (3%), anti-retroviral drugs for HIV treatment (2%) and antioxidants, antipyretic, analgesic, anti-inflammatory formulations, api & formulations of vitamins and ayurvedic medicaments (1% each). However, the price of antibiotics & preparations thereof (4%) and simvastatin, plastic capsules and anti-malarial drugs (1% each) declined.
The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 1.84% in January, 2019 to 3.29% in February, 2019.
For the month of December, 2018, the final Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) stood at 119.7 as compared to 120.1 (provisional) and annual rate of inflation based on final index stood at 3.46 %as compared to 3.80 %(provisional) respectively as reported on January 14, 2019.