The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing index numbers of wholesale price in India for the month of December, 2020 (Provisional) and for the month of October, 2020 (Final) in this press release. Provisional figures of Wholesale Price Index (WPI) are released on 14th of every month (or next working day) with a time lag of two weeks of the reference month and compiled with data received from institutional sources and selected manufacturing units across the country. After 10 weeks, the index is finalized and final figures are released and then frozen thereafter.
The movement of the index for the various commodity group is summarized below:-
PRIMARY ARTICLES (Weight 22.62%)
The index for this major group declined by (-3.11%) to 146.5 (provisional) in December, 2020 from 151.2 (provisional) for the month of November, 2020. Prices of Crude Petroleum & Natural Gas (5.47%), Minerals (5.36%) and Non-food Articles (0.36%) increased in December, 2020 as compared to November, 2020. Prices of Food Articles (-4.85%) declined in December, 2020 as compared to November, 2020.
FUEL & POWER (Weight 13.15%)
The index for this major group increased by (3.18%) to 94.2 (provisional) in December, 2020 from 91.3 (provisional) for the month of November, 2020. Prices of Mineral Oils (6.01%) and Coal (0.40%) increased in December, 2020 as compared to November, 2020. Prices of electricity remain unchanged.
MANUFACTURED PRODUCTS (Weight 64.23%)
The index for this major group increased by (1.40%) to 123.0 (provisional) in December, 2020 from 121.3 (provisional) for the month of November, 2020. Out of the 22 NIC two-digit groups for Manufactured products, 16 groups that have witnessed increase in prices are manufacture of furniture; other transport equipment; motor vehicles, trailers and semi-trailers; machinery and equipment; electrical equipment; computer, electronic and optical products; fabricated metal products, except machinery and equipment; basic metals; other non-metallic mineral products; rubber and plastics products; chemicals and chemical products; printing and reproduction of recorded media; paper and paper products; textiles; tobacco products; food products in December, 2020 as compared to November, 2020. Whereas 6 groups that have witnessed decrease in prices are manufacture of other manufacturing; pharmaceuticals, medicinal chemical and botanical products; wood and of products of wood and cork; leather and related products; wearing apparel; beverages in December, 2020 as compared to November, 2020.
WPI FOOD INDEX (Weight 24.38%)
The Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Product' from Manufactured Products group have decreased from 158.9 in November, 2020 to 154.4 in December, 2020. The rate of inflation based on WPI Food Index decreased from (4.27%) in November, 2020 to (0.92%) in December, 2020.
FINAL INDEX FOR THE MONTH OF OCTOBER, 2020 (BASE YEAR:2011-12=100)
For the month of October, 2020 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 123.6 and (1.31%) respectively.
Note:
The WPI for December, 2020 have been compiled at a weighted response rate of 79 percent, while the final figure for October, 2020 is based on the weighted response rate of 91 percent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI.
Price Data are collected from selected institutional sources and industrial establishments spread across the country online through web based portal maintained by the National Informatics Centre (NIC).