OIL & GAS

Govt releases truncated April WPI inflation data; reports 10.12 per cent deflation in fuel, power basket

The government on Thursday released truncated data for April wholesale price-based inflation saying there was limited transaction of products in the market due to the outbreak of COVID-19. As per the data released by the Commerce and Industry Ministry, wholesale price index (WPI) deflation in primary articles was 0.79 per cent in April, as against an inflation of 3.72 per cent in March.

The fuel and power basket saw a deflation of 10.12 per cent in April, against 1.76 per cent deflation in the previous month.

“In view of the limited transactions of products in the wholesale market in April 2020 due to the spread of COVID-19, it has been decided to release the price movement of selected sub-groups/groups of WPI, following the principles of adequacy,” an official statement said.

All commodities WPI could not be computed for April-2020 due to non- availability of manufactured product group index, it added.

It said the price indices of primary articles have been computed based on mandi prices of agricultural items; ex-mine prices of minerals; prices of crude petroleum and natural gas.

Price indices of fuel and power major group have been computed based on the price data reported from Ministry of Petroleum and Natural Gas, selected public sector undertakings (PSUs), Office of the Coal Controller and Central Electricity Authority.

Price indices of these major groups (primary articles and fuel & power) were released for April 2020 with standard procedures. No changes in estimation procedures were done, it added.

Source
ET Energy World
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