India Annual Inflation Rate Down to 7.45 Percent in October

The annual rate of inflation, based on monthly WPI, stood at 7.45 percent (Provisional) for the month of October, 2012 (over October, 2011) as compared to 7.81 percent (Provisional) for the previous month and 9.87 percent during the corresponding month of the previous year.

The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05 = 100) for the month October, 2012 rose by 0.2 percent to 168.7 (Provisional) from 168.4 (Provisional) for the previous month.

The index for primary articles declined by 0.2 percent to 220.2 (Provisional) from 220.7 (Provisional) for October. The index for ‘Food Articles’ group declined by 0.1 percent to 212.5 (Provisional) from 212.7 (Provisional) for the previous month due to lower prices of bajra (6 percent), fish-marine (5 percent), urad (4 percent), arhar, gram, maize and poultry chicken (2 percent each) and barley and condiments & spices (1 percent each). However, the prices of ragi (6 percent), fish-inland (3  percent), moong, coffee and mutton (2 percent each) and tea, milk and rice (1 percent each) moved up.
The index for fuel and power rose by 0.8 percent to 189.9 (Provisional) from 188.3 (Provisional) for the previous month due to higher prices of high speed diesel (5 percent) and lpg (1 percent). However, the prices of bitumen (12 percent), aviation turbine fuel (5 percent) and furnace oil and naphtha (3 percent each) declined.
The index for manufactured products rose by 0.1 percent to 147.9 (Provisional) from 147.7 (Provisional) for October. The index for ‘Textiles’ group rose by 0.5 percent to 131.6 (Provisional) from 130.9 (Provisional) for the previous month due to higher prices of jute sacking bag (2 percent) and gunny and hessian cloth and woollen textiles (1 percent each). However, the prices of tyre cord fabric and jute yarn (1 percent each) declined.

The Cochin Chamber of Commerce and Industry | Andre Crujo |
12/12/2012 9:52:31 AM