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WPI inflation rises to 3.39% in December; food prices downWPI inflation in vegetables saw deflationary pressure for the fourth consecutive month.

WPI inflation rises to 3.39% in December; food prices down

16 Jan 2017 | 5:47 PM

NEW DELHI: Wholesale inflation broke the three-month declining trend and rose to 3.39 per cent in December 2016, even as food articles turned cheaper.

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New Delhi, January 16

Wholesale inflation broke the three-month declining trend and rose to 3.39 per cent in December 2016, mainly due to rise in prices of manufactured items, even as food articles turned cheaper.

The wholesale price index-based inflation, reflecting the annual rate of price rise, in November stood at 3.15 per cent. In December 2015, the print was (-)1.06 per cent.

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WPI inflation in vegetables, at (-)33.11 per cent in December, saw deflationary pressure for the fourth consecutive month. This was helped by a substantial price fall in onions, which stood at (-)37.20 per cent.

Pulse inflation continued to rule high at 18.12 per cent in December, according to commerce ministry data. Potato recorded maximum inflationary pressure at 26.42 per cent. Rate of price increase in egg, meat and fish was 2.73 per cent during the month.

Overall, the food inflation basket witnessed contraction, with inflation at (-)0.70 per cent in December as against 1.54 per cent in November. Inflation in fuel and power and manufactured items saw some uptick, which pushed up the overall WPI inflation in December.

The reading for manufactured articles was 3.67 per cent compared with 3.20 per cent in the previous month. Inflation in the fuel and power segment was 8.65 per cent in December, up from 7.07 per cent in November.

While the rate of price rise in sugar was 28.04 per cent, for petrol, it was 8.52 per cent, and 20.25 per cent for high speed diesel.

The WPI inflation for October has been revised upwards at 3.79 per cent against the provisional estimate of 3.39 per cent.

The decline in wholesale inflation is in contrast to the fall in retail inflation, which hit a three-year low of 3.41 per cent in December.

The monetary policy committee headed by RBI Governor Urjit Patel had last month held interest rates steady and said demonetisation of high-value currency notes could lower prices of perishables and reduce CPI inflation by 10-15 basis points by December.

RBI has projected March 2017 CPI inflation to be 5 per cent. —PTI

 

Taxation of gold and gold productsPersonal Finance

Taxation of gold and gold products

16 Jan 2017 | 12:34 AM

The profit on sale of your gold is taxable under the head “Capital Gains” unless you are a dealer in gold and jewellery in which case it becomes taxable under the head ”Profits and gains of business or profession”.

Insurance: Online channel an emerging trend

Insurance: Online channel an emerging trend

16 Jan 2017 | 12:34 AM

One may say demonetisation in the short run impacts premium collection as people habitual of paying premium in cash may adopt a wait-and-watch strategy till the position of cash liquidity eases out.

Gratuity up to Rs 10 lakh exemptTax Advice

Gratuity up to Rs 10 lakh exempt

16 Jan 2017 | 12:34 AM

I retired from the public sector in July, 2016 and received Rs 1,73,000 from LIC on account of commutation of pension and Rs 1,07,000 against Group Savings link insurance scheme.

Realty hit hard by demonetisation, awaits ‘white money’ buyers

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15 Jan 2017 | 2:50 PM

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Spicejet signs $22-bn deal  to buy 205 Boeing aircraft

Spicejet signs $22-bn deal to buy 205 Boeing aircraft

14 Jan 2017 | 12:52 AM

NEW DELHI:Budget carrier SpiceJet today said it has signed a deal with aircraft manufacturer Boeing for the purchase of up to 205 aircraft.

Infosys logs 7% rise in Q3 profit

Infosys logs 7% rise in Q3 profit

14 Jan 2017 | 12:52 AM

MUMBAI:IT major Infosys today narrowed its full-year revenue guidance range after posting a better-than-expected 7% rise in third-quarter profit that was helped by 77 new client wins.

Chandrasekaran driving force for Tatas: India Inc

14 Jan 2017 | 12:52 AM

NEW DELHI:India Inc today said Tata Sons’ Chairman-designate N Chandrasekaran has been a driving force for the Tata Group.

Hero MotoCorp forays into Argentina

14 Jan 2017 | 12:52 AM

BUENOS AIRES/DELHI:Two-wheeler major Hero MotoCorp today forayed into the Argentinian market with the global launch of its 125 cc bike ‘New Glamour’ as part of its aggressive global expansion plans.

Exports rise 5.72% in Dec

14 Jan 2017 | 12:52 AM

NEW DELHI:Exports continued to grow for the fourth straight month in December 2016, expanding by 5.72% to $23.9 billion compared to $22.6 billion in the same month of previous year.

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