Coal news and updates

May WPI inflation hits 5-month high of 6.01%

June 16: India's wholesale price inflation stood at 6.01% in May, 2014, the highest in five-month high in May, 2014 after hitting a two-month low of 5.20% in April, according to an official release by the Ministry of Commerce and Industry. 

The wholesale price index (WPI), long regarded as India's main inflation measure, rose from 4.58% in the corresponding month last year (May2013).

The reading for March WPI inflation stands revised at 180.3 (Base: 2004-05=100) as compared to 179.8 (provisional) and annual rate of inflation based on final index stood at 6.00 % as compared to 5.70 %  respectively as reported on April 14, 2014.

Inflation rate has been pushed up mainly by pricy food items. The prices of minerals registered a 0.7% decline in the minerals group to 348.5 (provisional) from 350.8 (provisional) for the previous month (April, 2014)  due to lower price of steatite and zinc concentrate (8% each), iron ore (3%) and chromite and crude petroleum (1% each).  However, the price of copper ore (5%) and barytes (1%) moved up.

India has been battling a prolonged spell of high inflation and low growth. While economic growth has almost halved to below 5% for the past two years, the worst slowdown for the South Asian nation since the 1980s.