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Feb WPI comes in at -0.91%; Dec WPI revised to -1.06% from -0.73%

Feb WPI reported at -0.91%; food articles index down 3.2% MoM

The wholesale price index, or WPI, for the month of February has come in flat at -0.91 percent, compared with January’s -0.90 percent and -2.17 percent during the corresponding month of 2015.

A CNBC-TV18 poll had hinted at a contraction in WPI to -0.3 percent.

Meanwhile, the ministry of commerce and industry has revised December WPI inflation to -1.06 percent from -0.73 percent reported earlier.

Primary articles, which is 20.12 percent of WPI, declined by 3.4 percent MoM. The index for ‘Food Articles’ group slipped by 3.2 percent in February due to lower price of fruits and vegetables (11 percent), egg (6 percent), arhar and gram (5 percent each), coffee and moong (4 percent each), masur (3 percent), condiments and spices (2 percent) and wheat, jowar and fish-inland (1 percent each).  However, the price of certain food items such as barley (4 percent), fish-marine (3 percent), bajra (2 percent) and pork, ragi, maize and poultry chicken (1 percent each) moved up.

The ‘non-food articles’ index too has declined by 2.9 percent month-on-month.

Meanwhile, manufactured products, which carries the highest weightage of 64.97 percent in the WPI basket, has inched up by 0.3 percent, when compared to January.

More to follow…