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GS-III : Economic Issues Terminology

16 June, 2020
8 Min Read

Wholesale Price in India

Index Numbers of Wholesale Price in India for the month of May 2020

The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing index numbers of wholesale prices in India for the month of May 2020 (Provisional) and for the month of March 2020 (Final).
Provisional figures of the Wholesale Price Index (WPI) are released on the 14th of every month (or the next working day) with a time lag of two weeks of the reference month.
Wholesale Price Index for 'All Commodities' (Base: 2011-12=100) for the month of May 2020 declined by (-2.24%) to 117.7 (provisional) from 120.4 (Final) for the month of March 2020.

The movement of the index for the various commodity group is summarized below:-

PRIMARY ARTICLES (Weight 22.62%)

The index for this major group declined by (-0.87%) in May.
Prices of Food Articles (0.73%) increased whereas prices of Crude Petroleum & Natural Gas (-23.18%) and Non-Food Articles (-1.44%) declined as compared to March 2020.

FUEL & POWER (Weight 13.15%)

The index for this major group declined by (-15.88%) in May 2020 .
Prices of the mineral oils group (-30.10%) declined compared to the month of March 2020. Prices of Coal and Electricity remain unchanged.

MANUFACTURED PRODUCTS (Weight 64.23%)

The index for this major group declined by (-0.42%) in May 2020 from 118.6 (final) for the month of March 2020.

WPI FOOD INDEX (Weight 24.38%)

The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from the Manufactured Products group has provisionally increased from 145.7 in March 2020 to 146.1 in May 2020.
The annual rate of inflation based on WPI Food Index decreased from 5.20% in March, 2020 to 2.31% in May, 2020.

Source: PIB

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