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The Wholesale Price Index (WPI) in India for June 2024, based on the 2011-12 base year

The Wholesale Price Index (WPI) in India for June 2024, based on the 2011-12 base year

In June 2024, India’s Wholesale Price Index (WPI) showed a provisional annual inflation rate of 3.36% compared to June 2023, driven by increased prices in food articles, manufactured food products, crude petroleum & natural gas, mineral oils, and other manufacturing sectors. The overall WPI for all commodities rose to 153.9 (base year 2011-12=100), marking a month-on-month increase of 0.39% from May 2024.

Primary articles saw a significant rise, with the index climbing to 191.6 due to higher prices in food articles and minerals. Meanwhile, the fuel & power group declined by 1.93%, mainly due to lower prices in electricity and mineral oils. Manufactured products also saw a slight increase to 141.9, driven by rises in food products, chemicals, textiles, rubber & plastics products, and motor vehicles. The food index registered an annual inflation rate of 8.68%, up from 7.40% in May 2024, reflecting higher prices in various food categories.

Overall WPI and Inflation

  • WPI for June 2024: 153.9
  • Annual inflation rate: 3.36% (June 2024 over June 2023)
  • Month-over-month change: 0.39% (June 2024 over May 2024)

Breakdown by Major Groups

Primary Articles (Weight: 22.62%)

  • Index: 191.6
  • Annual Inflation: 8.80%
  • Month-over-month change: 2.08%
  • Significant increases in food articles (2.96%) and minerals (1.47%).
  • Decline in non-food articles (-0.32%) and crude petroleum & natural gas (-0.57%).

Fuel & Power (Weight: 13.15%)

  • Index: 147.7
  • Annual Inflation: 1.03%
  • Month-over-month change: -1.93%
  • Declines in electricity (-1.67%) and mineral oils (-2.38%).

Manufactured Products (Weight: 64.23%)

  • Index: 141.9
  • Annual Inflation: 1.43%
  • Month-over-month change: 0.14%
  • Price increases in food products, chemicals, textiles, and motor vehicles.
  • Price decreases in basic metals, fabricated metal products, and pharmaceuticals.

Food Index (Weight: 24.38%)

  • Index: 190.3
  • Annual Inflation: 8.68%
  • Month-over-month change: 2.48%

Detailed Commodity Analysis

  • Cereals: Index at 201.6, with an annual inflation of 9.27%.
  • Pulses: Index at 229.3, with an annual inflation of 21.64%.
  • Vegetables: Index at 282.8, with an annual inflation of 38.76%.
  • Fruits: Index at 200.9, with an annual inflation of 10.14%.
  • Milk: Index at 184.3, with an annual inflation of 3.37%.
  • Eggs, Meat & Fish: Index at 174.5, with an annual inflation of -3.06%.
  • Crude Petroleum: Index at 133.2, with an annual inflation of 14.04%.

Fuel & Power Components

  • LPG: Index at 115.7, with an annual inflation of 1.49%.
  • Petrol: Index at 153.8, with an annual inflation of -1.35%.
  • HSD: Index at 166.0, with an annual inflation of -1.78%.

Manufactured Products

  • Food Products: Index at 165.6, with an annual inflation of 4.28%.
  • Chemicals and Chemical Products: Index at 136.4, with an annual inflation of -1.09%.
  • Basic Metals: Index at 143.1, with an annual inflation of 1.06%.

Notable Points

Positive Inflation Drivers: Increases in prices of food articles, manufactured food products, crude petroleum & natural gas, and other manufacturing sectors.

Response Rate: The WPI for June 2024 was compiled with a weighted response rate of 87.8%, while the final figure for April 2024 had a response rate of 95.8%.

Next Release

The WPI for July 2024 will be released on August 14, 2024.

Piyush Shukla

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Piyush Shukla
Tags: Economy
1 year ago

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