Economy

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14-Jun-2019   12:40 Hrs IST Wholesale inflation hits 22-month low of 2.45% in May <p align="justify">India's Wholesale price index (WPI) inflation continued its easing trend for second straight month and hit 22-month low of 2.45% in the month of May 2019, the lowest level since July 2017, as prices of food articles cooled down. As per the data of Ministry of Commerce &amp; Industry, WPI for All Commodities (Base: 2011-12=100) for the month of May, 2019 stood at 2.45% (provisional) as compared to 3.07% (provisional) for the previous month and 4.78% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.08% compared to a build up rate of 1.72% in the corresponding period of the previous year. Besides, the wholesale inflation for March is revised downward to 3.10% from 3.18%.</p><p align="justify">Component wise, primary articles index having weight of 22.62% rose by 0.2% to 139.5 (provisional) from 139.2 (provisional) for the previous month. Among the primary articles, the index for ‘Food Articles' group remained unchanged at its previous month level of 150.1. The index for ' Non-Food Articles' group rose by 0.9% to 127.8 (provisional) from 126.7 (provisional) for the previous month and the index for 'Crude Petroleum &amp; Natural Gas' group jumped 3.5% to 92.8 (provisional) from 89.7 (provisional) for the previous month, while the index for 'Minerals' group declined by 4.2% to 138 (provisional) from 144 (provisional) for the previous month.</p><p align="justify">Besides, the rate of inflation based on WPI Food Index consisting of ‘Food Articles' from Primary Articles group and ‘Food Product' from Manufactured Products group increased from 4.95% in April, 2019 to 5.10% in May, 2019. Moreover, Fuel &amp; Power index, having weight of 13.15%, inched up by 0.6% to 103.4 (provisional) from 102.8 (provisional) for the previous month. </p><p align="justify">Manufactured Products constituting the major portion of the index with weight of 64.23%, rose by 0.1% to 118.4 (provisional) from 118.3 (provisional) for the previous month. Among the items in the group, the index for 'Manufacture of Food Products' group rose by 0.4% to 129.2 (provisional) from 128.7 (provisional) for the previous month, the index for 'Manufacture of Textiles' group rose by 0.3% to 119.7 (provisional) from 119.4 (provisional) for the previous month, the index for 'Manufacture of Wearing Apparel' group rose by 0.5% to 139.2 (provisional) from 138.5 (provisional) for the previous month, the index for 'Manufacture of Wood and of Products of Wood and Cork ' group rose by 0.5% to 134.3 (provisional) from 133.6 (provisional) for the previous month, the index for 'Printing and Reproduction of Recorded Media' group rose by 0.5% to 148.3 (provisional) from 147.5 (provisional) for the previous month and the index for 'Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products' group rose by 0.9% to 125.5 (provisional) from 124.4 (provisional) for the previous month.</p><p align="justify">The index for 'Manufacture of Other Non-Metallic Mineral Products' group rose by 1.4% to 118.4 (provisional) from 116.8 (provisional) for the previous month, the index for 'Manufacture of Computer, Electronic and Optical Products' group rose by 0.4% to 111.4 (provisional) from 111 (provisional) for the previous month, the index for 'Manufacture of Machinery and Equipment' group rose by 0.5% to 112.7 (provisional) from 112.1 (provisional) for the previous month, the index for 'Manufacture of Motor Vehicles, Trailers and Semi-Trailers' group rose by 0.3% to 113.3 (provisional) from 113 (provisional) for the previous month, the index for 'Manufacture of Other Transport Equipment' group rose by 1.2% to 114.8 (provisional) from 113.4 (provisional) for the previous month and the index for 'Manufacture of Furniture' group rose by 0.1% to 129.4 (provisional) from 129.3 (provisional) for the previous month.</p><p align="justify">On the other hand, the index for 'Manufacture of Beverages' group declined by 0.2% to 122.5 (provisional) from 122.7 (provisional) for the previous month, the index for 'Manufacture of Tobacco Products' group declined by 1.6% to 152.1 (provisional) from 154.6 (provisional) for the previous month, the index for 'Manufacture Of Leather And Related Products' group declined by 0.9% to 119.7 (provisional) from 120.8 (provisional) for the previous month, the index for 'Manufacture Of Paper And Paper Products' group declined by 0.2% to 123.5 (provisional) from 123.7 (provisional) for the previous month, the index for 'Manufacture of Rubber And Plastics Products' group declined by 1% to 109.2 (provisional) from 110.3 (provisional) for the previous month, the index for 'Manufacture of Basic Metals' group declined by 0.8% to 109.7 (provisional) from 110.6 (provisional) for the previous month, the index for 'Manufacture of Fabricated Metal Products, Except Machinery And Equipment' group declined by 0.3% to 116.9 (provisional) from 117.2 (provisional) for the previous month and the index for 'Other Manufacturing' group declined by 0.1% to 106.3 (provisional) from 106.4 (provisional) for the previous month.<br></p>
14-Jun-2019   12:40 Hrs IST Wholesale inflation hits 22-month low of 2.45% in May <p align="justify">India's Wholesale price index (WPI) inflation continued its easing trend for second straight month and hit 22-month low of 2.45% in the month of May 2019, the lowest level since July 2017, as prices of food articles cooled down. As per the data of Ministry of Commerce &amp; Industry, WPI for All Commodities (Base: 2011-12=100) for the month of May, 2019 stood at 2.45% (provisional) as compared to 3.07% (provisional) for the previous month and 4.78% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.08% compared to a build up rate of 1.72% in the corresponding period of the previous year. Besides, the wholesale inflation for March is revised downward to 3.10% from 3.18%.</p><p align="justify">Component wise, primary articles index having weight of 22.62% rose by 0.2% to 139.5 (provisional) from 139.2 (provisional) for the previous month. Among the primary articles, the index for ‘Food Articles' group remained unchanged at its previous month level of 150.1. The index for ' Non-Food Articles' group rose by 0.9% to 127.8 (provisional) from 126.7 (provisional) for the previous month and the index for 'Crude Petroleum &amp; Natural Gas' group jumped 3.5% to 92.8 (provisional) from 89.7 (provisional) for the previous month, while the index for 'Minerals' group declined by 4.2% to 138 (provisional) from 144 (provisional) for the previous month.</p><p align="justify">Besides, the rate of inflation based on WPI Food Index consisting of ‘Food Articles' from Primary Articles group and ‘Food Product' from Manufactured Products group increased from 4.95% in April, 2019 to 5.10% in May, 2019. Moreover, Fuel &amp; Power index, having weight of 13.15%, inched up by 0.6% to 103.4 (provisional) from 102.8 (provisional) for the previous month. </p><p align="justify">Manufactured Products constituting the major portion of the index with weight of 64.23%, rose by 0.1% to 118.4 (provisional) from 118.3 (provisional) for the previous month. Among the items in the group, the index for 'Manufacture of Food Products' group rose by 0.4% to 129.2 (provisional) from 128.7 (provisional) for the previous month, the index for 'Manufacture of Textiles' group rose by 0.3% to 119.7 (provisional) from 119.4 (provisional) for the previous month, the index for 'Manufacture of Wearing Apparel' group rose by 0.5% to 139.2 (provisional) from 138.5 (provisional) for the previous month, the index for 'Manufacture of Wood and of Products of Wood and Cork ' group rose by 0.5% to 134.3 (provisional) from 133.6 (provisional) for the previous month, the index for 'Printing and Reproduction of Recorded Media' group rose by 0.5% to 148.3 (provisional) from 147.5 (provisional) for the previous month and the index for 'Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products' group rose by 0.9% to 125.5 (provisional) from 124.4 (provisional) for the previous month.</p><p align="justify">The index for 'Manufacture of Other Non-Metallic Mineral Products' group rose by 1.4% to 118.4 (provisional) from 116.8 (provisional) for the previous month, the index for 'Manufacture of Computer, Electronic and Optical Products' group rose by 0.4% to 111.4 (provisional) from 111 (provisional) for the previous month, the index for 'Manufacture of Machinery and Equipment' group rose by 0.5% to 112.7 (provisional) from 112.1 (provisional) for the previous month, the index for 'Manufacture of Motor Vehicles, Trailers and Semi-Trailers' group rose by 0.3% to 113.3 (provisional) from 113 (provisional) for the previous month, the index for 'Manufacture of Other Transport Equipment' group rose by 1.2% to 114.8 (provisional) from 113.4 (provisional) for the previous month and the index for 'Manufacture of Furniture' group rose by 0.1% to 129.4 (provisional) from 129.3 (provisional) for the previous month.</p><p align="justify">On the other hand, the index for 'Manufacture of Beverages' group declined by 0.2% to 122.5 (provisional) from 122.7 (provisional) for the previous month, the index for 'Manufacture of Tobacco Products' group declined by 1.6% to 152.1 (provisional) from 154.6 (provisional) for the previous month, the index for 'Manufacture Of Leather And Related Products' group declined by 0.9% to 119.7 (provisional) from 120.8 (provisional) for the previous month, the index for 'Manufacture Of Paper And Paper Products' group declined by 0.2% to 123.5 (provisional) from 123.7 (provisional) for the previous month, the index for 'Manufacture of Rubber And Plastics Products' group declined by 1% to 109.2 (provisional) from 110.3 (provisional) for the previous month, the index for 'Manufacture of Basic Metals' group declined by 0.8% to 109.7 (provisional) from 110.6 (provisional) for the previous month, the index for 'Manufacture of Fabricated Metal Products, Except Machinery And Equipment' group declined by 0.3% to 116.9 (provisional) from 117.2 (provisional) for the previous month and the index for 'Other Manufacturing' group declined by 0.1% to 106.3 (provisional) from 106.4 (provisional) for the previous month.<br></p>
14-Jun-2019   10:33 Hrs IST Government reduces rate of contribution towards ESI scheme to 4%
14-Jun-2019   10:05 Hrs IST CAIT urges govt for lowering GST rates on auto parts, aluminium utensils
14-Jun-2019   09:37 Hrs IST Revenue growth of India Inc hits six-quarter low in Q4FY19: ICRA
14-Jun-2019   09:14 Hrs IST RBI to infuse Rs 12,500 crore into financial system through purchase of G-sec
13-Jun-2019   12:45 Hrs IST Govt to take more steps to contain imports of defective or sub-standard steel
13-Jun-2019   10:41 Hrs IST Arvind Subramanian's GDP estimates exclude productivity, quality: CII
13-Jun-2019   10:02 Hrs IST Retail inflation jumps to seven-month high of 3.05% in May
13-Jun-2019   10:02 Hrs IST Retail inflation jumps to seven-month high of 3.05% in May

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