India Inflation Rate Down to 5.96% in March


The annual rate of inflation, based on monthly WPI, stood at 5.96 percent for the month of March, 2013 (over March, 2012) as compared to 6.84 percent for the previous month and 7.69 percent during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 5.96 percent compared to a build-up rate of 7.69 percent in the corresponding period of the previous year.

The index for ‘Non-Food Articles’ group rose by 0.6 percent to 206.9  from 205.6 for the previous month due to higher prices of logs and timber (16 percent), soyabean (11 percent), raw rubber (7 percent), mesta and gingelly seed (5 percent each) and raw cotton, raw silk and raw jute (4 percent each).  However, the prices of flower (18 percent), mustard seed (9 percent), copra (coconut) and fodder (3 percent each) and groundnut seed and guar seed (1 percent each) declined.

The index for ‘Minerals’ group rose by 2.1 percent to 357.4 from 350.1 for the previous month due to higher prices of zinc concentrate (5 percent), iron ore (4 percent), crude petroleum (2 percent) and copper ore (1 percent).  However, the prices of magnesite (7 percent), sillimanite (6 percent), manganese ore and barytes (3 percent each) and chromite (1 percent) declined.
 
The index for ‘Food Products’ group declined by 0.5 percent to 164.9 from 165.7 for the previous month due to lower prices of sunflower oil (7 percent), cotton seed oil (5 percent), mustard and rapeseed oil (4 percent), tea leaf (unblended), groundnut oil, tea leaf (blended) and soyabean oil (3 percent each).
 
The index for ‘Beverages, Tobacco and Tobacco Products’ group declined by 0.4 percent to 178.1 from 178.8 for the previous month due to lower prices of dried tobacco (4 percent) and beer and rectified spirit (1 percent each).
 

Ministry of Commerce and Industry | Nuno Fontes | nuno@tradingeconomics.com
4/15/2013 8:53:56 AM