The Annual Rate of Inflation of India Declined to 0.0 Per Cent for November 2014

The annual rate of inflation, based on monthly wholesale price index (WPI), declined to 0.0 per cent for November 2014 (over November 2013), according to the provisional data released by the Office of the Economic Adviser, Ministry of Commerce and Industry.

In comparison, annual rate of inflation was 1.7 per cent for October 2014 and 7.52 per cent during November 2013. Build up inflation rate in the financial year 2014-15 so far was 0.67 per cent compared to a build up rate of 6.7 per cent in the corresponding period of the previous year.

Likewise, the official WPI for all commodities (Base: 2004-05 = 100) for the month of November, 2014 declined by 1.3 per cent to 181.5 form 183.9 for the previous month.

The index for manufactured products (weight 64.97 per cent) for November, 2014 declined by 0.3 per cent to 155.4 from previous month’s level of 155.8. The index for textiles sub-group also declined by 0.3 per cent to 142.8 from 143.3 for the previous month due to lower price of jute sacking bag (2 per cent) and cotton yarn, tyre cord fabric and manmade fibre (1 per cent each). However, the price of woollen textiles (2 per cent) and cotton fabric, jute sacking cloth and manmade fabric (1 per cent each) moved up.

The index for primary articles (weight 20.12 per cent) declined by 1.0 per cent to 252.4 from 255.0 for the previous month. The index for fuel and power (weight 14.91 per cent) declined by 5.4 per cent to 199.3 from 210.7 for the previous month due to lower prices of oil, fuel, petrol and kerosene.

Meanwhile, the all-India consumer price index (CPI) on base 2010=100 stood at 4.38 in November, 2014 compared to 5.52 in October, 2014 and 11.16 in November, 2013, according to the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation.