Project cost index as measured by ERIL cost of material inputs that go into project execution declined 0.9 per cent annually in May 2016, against 0.7 decline a year ago. However, sequentially, May was the fourth month of increase in project cost measure.  WPI of cement & lime and structural clay products, mainly marbles, was up 0.97 per cent in April on a YoY  basis, even as that of iron & semis was down 6.5 per cent and electrical accessories, wires, cables, etc 2.7 per cent. Among the material inputs, production index of capital goods declined 25 per cent in April. Among the other investment goods that help project investment, alloy, non-alloy steel increased 6.1 per cent and cement 4.4 per cent. Engineering export increased 2 per cent in May. Import of transport equipment increased 18 per cent and electronic goods 8 per cent, whereas import of iron and steel declined 28 per cent and electrical-non-electrical machinery 3 per cent.

Changes during May

The WPI for non-metallic mineral products declined by 0.3 per cent in May due to lower price of polished granite (3 per cent) and railway sleeper and grey cement (1 per cent each).  However, the price of marbles and asbestos corrugated sheet increased by 3 per cent each and lime 1 per cent.

The WPI for basic metals, alloys & metal products rose by 0.6 per cent due to 4 per cent increase in price each of wire rods, steel rods and ferro manganese, 3 per cent each of pig iron and plates and rounds, 2 per cent in price each of silver, billets, ferro chrome, HRC and pipes/tubes/rods/strips, and 1 per cent each in price of steel: pipes & tubes, CRC, pressure cooker, angles, melting scrap and aluminium.  However, the price of steel structures and steel castings declined 1 per cent.

The WPI for machinery & machine tools rose by 0.4 per cent due to 10 per cent price rise washing / laundry machines, 5 price in ball/roller bearing and transformer, 2 per cent in electronic PCB/micro circuit and 1 per cent each in heat exchanger and fibre optic cable.  However, the price of textile machinery declined by 2 per cent and lifts, conductor, insulators, electrical pumps and fluorescent tubes 1 per cent each.

The WPI for transport, equipment & part rose by 0.1 per cent to due to 2 per cent price rise in price of railway axle & wheel.

ERIL Index of Cost of Project Inputs: May 2016
Wholesale Price Index: 2004-05=100
  Index Y-o-Y Incr. (%) Incr. since Mar (%)
    2016/15 2015/14 2016 2015
Non-metallic mineral products 178.7 1.5 4.9 0.0 -1.5
Structural clay products 200.0 1.8 5.1 2.0 0.2
Cement & Lime 175.4 1.8 5.2 -1.3 -3.0
Basic metals, alloys, metal products 154.9 -3.3 -4.0 -4.3 -1.1
Ferrous Metals 141.2 -4.9 -5.6 -6.6 -1.8
Non-Ferrous Metals 163.5 -1.9 -0.1 -2.3 -0.4
Machinery & Machine tools 135.5 0.4 0.9 0.4 0.0
Industrial Machinery 154.0 0.6 0.7 0.5 -0.1
Construction Machinery 141.5 0.0 0.4 0.0 0.0
Air Conditioner & Refrigerators 121.2 0.4 0.3 0.5 0.1
Non-electrical Machinery 127.6 0.1 2.4 0.1 0.1
Electrical Machinery, Batteries 138.1 0.1 -0.4 -0.1 -0.2
Electrical Accessories, Wires, Cables. 153.2 -2.7 3.3 -2.5 0.2
Transport equipment & parts 139.1 1.0 1.4 1.3 0.3
Automotives 138.4 1.3 1.1 1.5 0.2
Auto Parts 140.2 -0.1 2.9 0.2 0.4
Composite ERIL Index for project inputs 147.8 -0.9 -0.7 -1.5 -0.6
Overall WPI 179.4 0.8 -2.2 2.7 1.1

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