Coal news and updates

India’s June WPI at 5.43%

July 14: India’s wholesale price inflation (WPI) stood at 5.43% in June 2014, the lowest in fourth months after hitting a five-month high of 6.01% in May.

According to an official release by the Ministry of Commerce and Industry, the country’s WPI in June rose from 5.16% in the corresponding month of 2013.

Meanwhile, the government has revised the April WPI inflation numbers to 180.8 (base 2004-05=100) from the provisional number of 180.2 reported on May 15, 2014.

Consequently, the annual rate of inflation based on the final index stood revised at 5.55% as compared to a provisional figure of 5.20%.

The index for ‘Basic Metals, Alloys & Metal Products’ group rose by 0.1 percent to 167.1 (provisional) from 166.9 (provisional) for the previous month due to higher prices of steel (4%), ferro manganese (3%) and ferro chrome, sheets, joist & beams, iron & steel wire, wire rods, angles, aluminium and steel castings (1% each). However, prices of melting scrap (2%) and silver and gold & gold ornaments (1% each) declined.