India's WPI-Based Inflation at -2.33%

The annual rate of inflation, based on monthly wholesale price index (WPI), stood at minus 2.33 per cent for March 2015 (over March 2014), 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 minus 2.06 per cent for February 2015 and 6.00 per cent during March 2014. Build up inflation rate in the financial year 2014-15 remained negative and was at minus 2.33 per cent compared to a build up rate of 6.00 per cent in the corresponding period of the previous year.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of March, 2015 rose by 0.2 per cent to 176.1 from 175.8 for the previous month.

The index for manufactured products (weight 64.97 per cent) for March, 2015 declined by 0.1 per cent to 153.9 from February 2015’s level of 154.1. The index for textiles sub-group also declined by 0.2 per cent to 139,9 from 140.2 for the previous month due to lower price of man-made fabric (2 per cent) and man-made fibre, cotton yarn and tyre cord fabric (1 per cent each). However, the price of gunny and hessian cloth (2 per cent) and cotton fabric, jute sacking cloth, jute sacking bag and jute yarn (1 per cent each) moved up.

The index for primary articles (weight 20.12 per cent) declined by 1.0 per cent to 239.6 from 241.9 for the previous month. On the other hand, the index for fuel and power (weight 14.91 per cent) rose by 3.3 per cent to 187.3 from 181.3 for the previous month due to higher price of aviation turbine fuel, furnace oil, high speed diesel, petrol, naphtha and kerosene.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 5.17 (provisional) in March, 2015 compared to 5.37 in February, 2015 and 8.25 in March, 2014, according to the Central Statistics Office, Ministry of Statistics and Programme Implementation.