New Delhi: The wholesale price-based inflation has declined 4.95 per cent in December against 5.85% recorded in November, 2022.
According to the commerce and industry ministry, decline in the rate of inflation in December, 2022 is primarily contributed by fall in prices of food articles, mineral oils, crude petroleum & natural gas, food products, textiles and chemicals & chemical products.
The month over month change in WPI for the month of December, 2022 stood at (-)1.12% as compared to November, 2022, it added.
Month over Month Change in Major Groups of WPI:
Primary Articles (Weight 22.62%):- The index for this major group declined by 2.98% to 172.4 (provisional) in December, 2022 from 177.7 (provisional) for the month of November, 2022. Prices of Non-food Articles (1.49%) and Minerals (1.02%) increased in December, 2022 as compared to November, 2022. Prices of Food Articles (3.16%) and Crude Petroleum & Natural Gas (10.81%) declined in December, 2022 as compared to November, 2022.
Fuel & Power (Weight 13.15%):- The index for this major group declined by 1% to 158 (provisional) in December, 2022 from 159.6 (provisional) for the month of November, 2022. Prices of Electricity (9.51%) increased in December, 2022 as compared to November, 2022. Prices of Mineral Oils (4.64%) declined in December, 2022 as compared to November, 2022.
Manufactured Products (Weight 64.23%):- The index for this major group declined by 0.28% to 141.1 (provisional) in December, 2022 from 141.5 (provisional) for the month of November, 2022. Out of the 22 NIC two-digit groups for Manufactured products, 12 groups have witnessed increase in prices while 9 groups have witnessed a decrease in prices. Index of 1 group remained unchanged. The increase in price is mainly contributed by other manufacturing; printing and reproduction of recorded media; electrical equipment; other non-metallic mineral products; furniture and beverages etc.. Some of the groups that have witnessed decrease in prices are food products; textiles; chemicals and chemical products; basic metals; paper and paper products; motor vehicles, trailers and semi-trailers etc. in December, 2022 as compared to November, 2022.
WPI Food Index (Weight 24.38%): The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group have decreased from 173 in November, 2022 to 170.3 in December, 2022. The rate of inflation based on WPI Food Index decreased from 2.17% in November, 2022 to 0.65% in December, 2022.
Final index for the month of October, 2022 (Base Year: 2011-12=100): For the month of October, 2022 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 152.9 and 8.67% respectively. The details of all India Wholesale Price Indices and Rates of Inflation for different commodity groups for December, 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 for different commodity groups in the last six months is at Annex III.
Response Rate: The WPI for December, 2022 have been compiled at a weighted response rate of 85.2 percent, while the final figure for October, 2022 is based on the weighted response rate of 93.1 percent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI. This press release, item indices, and inflation numbers are available at our home page: http://eaindustry.nic.in.
