Inflation Increased to 6.46 percent in September 2013; Highest in Seven Months
Wholesale Price Index (WPI) for all commodities in the month of September 2013 stood at 6.46 percent as compared to 6.1percent in August 2013
Wholesale Price Index (WPI) for all commodities in the month of September 2013 stood at 6.46 percent as compared to 6.1percent in August 2013 and 8.07 percent during the corresponding September of the 2012. This data was released by the Office of Economic Adviser, Ministry of Commerce and Industry of Government of India on 14 October 2013.
Wholesale Price Index (WPI) for all commodities (Base year 2004-2005) released by the Government on 14 October 2013 shows that the food inflation at 18.40 per cent in September over the same month September 2012. The food prices had shot up 18.18 per cent in August 2013.
This is the highest inflation in Seven months. Wholesale Price Index (WPI) indicates the inflation in the Country. It is also called as Head Line Inflation .It shows all India inflation data.
WPI basically consists of Primary Articles, Fuel and Power items and Manufactured Products covering all important items transacted in the economy.
The weightage of primary articles in WPI is 20.12percent.
The index for Primary Articles rose by 1.5 percent to 251.6 (provisional) from 247.8 (provisional) for the August 2013. The Index contains Food articles, non food articles and Minerals.
Fuel and Power
The weightage of fuel and power in WPI is 14.91 percent.
The index for this major group rose by 2.6 percent to 207.5 (provisional) from 202.3 (provisional) for the August 2013.
The main reason for the increase in this index was higher price of light diesel oil (11percent), furnace oil (8percent), aviation turbine fuel (7percent), naphtha (7percent), petrol (6percent), lubricants (3percent), kerosene and bitumen (3percent each), high speed diesel (2percent) and lpg (1percent).
The weightage of manufactured products in WPI is 64.97 percent.
The index for this major group increased by 0.7 percent to 151.0 (provisional) from 150.0 (provisional) the August 2013.
About Wholesale price index (WPI)
WPI index is the most widely used inflation indicator in India. This is published by the Office of Economic Adviser, Ministry of Commerce and Industry of Government of India. The base year for calculating WPI is 2004-05. WPI captures price movements in a most comprehensive way. It is widely used by Government, banks, industry and business circles.