Month-over-month decrease in WPI for manufactured products but primary articles and Fuel & Power see a marginal rise
New Delhi: The annual rate of inflation based on All-India Wholesale Price Index (WPI) number is 15.18 per cent (Provisional) for the month of June, 2022 (over June, 2021). This is marginally lower than the WPI number of 15.88 per cent in May, 2022, The high rate of inflation in June, 2022 is primarily due to rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, food products etc. as compared to the corresponding month of the previous year.
1. Month over Month Change in Major Groups of WPI:
- Primary Articles (Weight 22.62 per cent):- The index for this major group increased by (1.45 per cent) to 182.4 (provisional) in June, 2022 from 179.8 (provisional) for the month of May, 2022. Prices of Crude Petroleum & Natural Gas (6.59 per cent) and Food Articles (2.40 per cent) increased in June, 2022 as compared to May, 2022. Prices of Non-food Articles (-2.06 per cent) and Minerals (-9.04 per cent) declined in June, 2022 as compared to May, 2022.
- Fuel & Power (Weight 13.15 per cent):- The index for this major group increased by (0.65 per cent) to 155.4 (provisional) in June, 2022 from 154.4 (provisional) for the month of May, 2022. Prices of Mineral Oils (0.98 per cent) increased in June, 2022 as compared to May, 2022.
- Manufactured Products (Weight 64.23 per cent):- The index for this major group declined by (-0.76 per cent) to 143.7 (provisional) in June, 2022 from 144.8 (provisional) for the month of May, 2022. Out of the 22 NIC two-digit groups for Manufactured products, 14 groups have witnessed increase in prices while 8 groups that have witnessed decrease in prices. The increase in prices is mainly contributed by chemical and chemical products, other non-metallic mineral products, electrical equipment, motor vehicles, textiles etc. in June, 2022 as compared to May, 2022. Some of the groups that have witnessed decrease in prices are basic metals, food products, other manufacturing and furniture in June, 2022 as compared to May, 2022.
2. WPI Food Index (Weight 24.38 per cent): The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group have increased from 176.1 in May, 2022 to 178.4 in June, 2022. The rate of inflation based on WPI Food Index increased from 10.89 per cent in May, 2022 to 12.41 per cent in June, 2022
3. Final index for the month of April, 2022 (Base Year: 2011-12=100): For the month of April, 2022 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 152.3 and 15.38 per cent respectively. The details of all India Wholesale Price Indices and Rates of Inflation for different commodity groups for June, 2022 are at Annex I. The Annual rate of Inflation (Y-o-Y) based on WPI for different commodity groups in the last six months are at Annex II. The WPI Index for different commodity groups in the last six months is at Annex III.
4. Response Rate: The WPI for June, 2022 have been compiled at a weighted response rate of 82.5 percent, while the final figure for April, 2022 is based on the weighted response rate of 91.4 per cent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI.