All India WPI Inflation in October 2023 stands at -0.52%

The provisional annual inflation rate, as per the All India Wholesale Price Index (WPI), stands at -0.52% for October 2023 compared to -0.26% in September 2023, with the decline attributed to decreased prices in chemicals, chemical products, electricity, textiles, basic metals, food products, paper, and paper products, among others. The following presents the index numbers and inflation rates for all commodities and WPI components over the last three months:

Note: P: Provisional, *Annual rate of WPI inflation calculated over the corresponding month of previous year

2. The month-over-month change in WPI index for the month of October, 2023 stood at 0.40% as compared to September, 2023. The monthly change in WPI index for last six-month is summarized below:

Note: P: Provisional, #Monthly rate of change, based on month over month (M-o-M) WPI calculated over the preceding month

3. Month-over-Month Changes in Major Groups of WPI:

Primary Articles (Weight 22.62%): The index for this major group exhibited a 1.15% increase, reaching 184.5 (provisional) in October 2023 from 182.4 (provisional) in September 2023. Prices of Minerals (7.81%) and Food Articles (1.33%) rose, while prices of Crude Petroleum & Natural Gas (-0.60%) and Non-food Articles (-0.24%) declined in October 2023 compared to September 2023.

Fuel & Power (Weight 13.15%): The index for this major group increased by 0.65%, reaching 154.1 (provisional) in October 2023 from 153.1 (provisional) in September 2023. Prices of Mineral Oils (1.28%) increased, while prices of Electricity (-0.73%) declined in October 2023 compared to September 2023.

Manufactured Products (Weight 64.23%): The index for this major group remained constant at 140.3 (provisional) in both October 2023 and September 2023. Among the 22 NIC two-digit groups for manufactured products, 13 groups experienced price increases, 7 groups saw decreases, and 2 groups remained unchanged. Noteworthy increases were observed in the manufacture of food products, chemicals and chemical products, motor vehicles trailers & semi-trailers, textiles, and other non-metallic mineral products. Conversely, groups such as manufacture of basic metals, fabricated metal products (except machinery & equipment), rubber & plastic products, and other transport equipment witnessed price decreases in October 2023 compared to September 2023.

4. WPI Food Index (Weight 24.38%): The Food Index, comprising ‘Food Articles’ from the Primary Articles group and ‘Food Product’ from the Manufactured Products group, increased from 177.8 in September 2023 to 179.6 in October 2023. The annual inflation rate based on the WPI Food Index stood at 1.07% in October 2023, down from 1.54% in September 2023.

5. Final Index for August 2023 (Base Year: 2011-12=100): For August 2023, the final Wholesale Price Index for ‘All Commodities’ stood at 152.5, with an inflation rate of -0.46%. Detailed information on All India Wholesale Price Indices and Rates of Inflation for different commodity groups based on updated figures can be found in Annex I. Annex II provides the annual inflation rates (Y-o-Y) based on WPI for different commodity groups in the last six months, while Annex III contains the WPI for different commodity groups during the same period.

6. Response Rate: The WPI for October, 2023 has been compiled at a weighted response rate of 85.9 per cent, while the final figure for August, 2023 is based on the weighted response rate of 94.0 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 .

7. Next date of Press Release: WPI for the month of November, 2023 would be released on 14/12/2023.