Coal news and updates

India’s January WPI slides by 0. 39% year-on-year

February 16: India’s annual rate of inflation, based on monthly WPI, stood at -0.39% (provisional) for the month of January, 2015 (over January, 2014), according to an official release .
 
The inflation in December 2014 stood at 0.11% (provisional) and 5.11% during the corresponding month of the previous year (January 2014).
 
The inflation rate in January 2015 fell mainly due to tumbling oil prices, thereby increasing prospects of further rate cuts by the Reserve Bank of India.
 
The index for ‘Minerals’ group declined by 7.6% to 301.1 (provisional) from 325.7 (provisional) for the previous month due to lower price of barytes (19%), copper ore (16%), crude petroleum (11%), magnesite (5%) and manganese ore (1%). However, the price of zinc concentrate (16%), steatite (3%) and limestone, phosphorite and sillimanite (1% each) moved up.
 
The WPI index of November, 2014, stands revised to 181.2 as compared to 181.5 (provisional) and the annual rate of inflation based on the final index stood at – 0.17% as compared to 0% respectively as reported on November 14, 2014.