Indian WPI Slows to 5-Month Low in December

In December of 2013, Indian headline inflation rate slowed to 6.16 percent, the lowest rate in five months as vegetable prices, mainly onions, slowed due to a new harvest. On a monthly basis, prices fell 1.27 percent.
Ministry of Commerce and Industry | Joana Taborda | 1/15/2014 8:52:02 AM
The index for food declined by 6.4 percent due to lower prices of fruits and vegetables (21 percent), fish-inland (8 percent), coffee (7 percent), tea and ragi (3 percent each) and gram, rice and mutton (1 percent each). However, the price of poultry chicken (6 percent), egg (5 percent), moong (4 percent), condiments and spices (3 percent), jowar, barley, masur and wheat (2 percent each) and fish-marine, milk, arhar, maize, pork, bajra, beef and buffalo meat and urad (1 percent each) moved up. 

Prices of non-food articles declined by 0.4 percent due to lower cost of guar seed (13 percent), groundnut seed (6 percent), raw cotton (5 percent), cotton seed and soyabean (2 percent each) and fodder (1 percent). However, the price of flowers (22 percent), castor seed (13 percent) moved up. 

The index for minerals declined by 3.1 percent on the back of lower prices of barytes (8 percent), iron ore and crude petroleum (4 percent each) and phosphorite (2 percent). However, the price of copper ore and steatite (4 percent each), manganese ore (3 percent), chromite (2 percent) and zinc concentrate (1 percent) moved up.  

Prices of fuel and power rose 0.8 percent due to higher cost of electricity (industry) (3 percent), LPG (2 percent), high speed diesel, electricity (commercial), electricity (railway traction), aviation turbine fuel, bitumen and electricity (domestic) (1 percent each). However, the price of furnace oil (1 percent) declined.  

The index for manufactured products remained unchanged.

Indian WPI Slows to 5-Month Low in December