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      WPI inflation rebounds to 1.88% in July 2017

      MoM Team / Mumbai, Aug 14, 2017 03:34 PM IST

        WPI inflation rebounds to 1.88% in July 2017

        The Wholesale Price Index (WPI)-based inflation, base year 2011-12, increased to 1.9 percent in July 2017 rebounded from 12-month low of 0.9 percent in June 2017, while snapping consistent sharp moderation for last four straight months. The WPI inflation was driven up by inflation primary articles turning positive in July 2017, while the inflation for fuel and power group as well as manufactured products group have decline in June 2017.

        Inflation of primary articles rebounded to 0.5 percent in July 2017 from (-) 3.9 percent in June 2017. The inflation for fuel items dipped to 4.4 percent in July 2017, continuing sharp moderation for fifth straight month, from 5.3 percent in June 2017. The inflation for manufactured products also fell to 2.2 percent in July 2017 from 2.3 percent in June 2017.

        As per major commodity group-wise, inflation increased sharply vegetables, fruits, egg, meat fish, spices, fodder, flouriculture, copper concentrate, tobacco products, wearing apparel, paper and paper products, basic metals, computer and electronic products, machinery and equipment, transport equipment and furniture in July 2017. On the other hand, inflation of foodgrains, milk, fibres, oilseeds, crude petroleum, mineral oil, food products, textiles, chemical products, rubber and plastic products, electrical equipment, motor vehicles declined in July 2017.

        Inflation of food items (food articles and food products) rebounded to 2.1 percent in July 2017 from (-) 1.2 percent in June 2017 level. Meanwhile, inflation of non-food items (all commodities excluding food items) was flat at 1.8 percent in July 2017 compared with that in June 2017.

        Core inflation (manufactured products excluding foods products) rose marginally to 2.1 percent in July 2017 from 2.0 percent in June 2017.

        The contribution of primary articles to the overall inflation, at 1.88 percent, was positive 12 basis points (bps) in July 2017, showing rebound from (-) 103 bps to 0.90 percent in June 2017. The contribution of fuel product group eased to 44 bps against 53 bps in June 2017, while that of manufactured products was lower at 133 bps compared with 144 bps.

        The contribution of food items (food articles and food products) to inflation turned positive at 63 bps to 1.88 percent in July 2017 compared with (-) 37 bps to 0.90 percent in June 2017. Meanwhile, the contribution of non-food items (all commodities excluding food items) was nearly flat at 128 bps in July 2017 compared with 125 bps in June 2017.

        The WPI inflation stood at 2.2 percent in April-July FY2018 against (-) 0.4 percent in April-July FY2017. The primary articles inflation was at (-) 1.0 percent in April-July FY2018 from 5.0 percent in April-July FY2017, while fuel products inflation increased to 9.5 percent from (-) 12.6 percent. The inflation for manufactured products bounced to 2.5 percent in April-July FY2018 from (-) 0.3 percent in April-July FY2017.


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      Source: Capital Market


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