Increase in prices of non-metallic mineral products
By Dr M.S. Kapadia
The ERIL Index of Cost of Project Inputs inched up to 138.44 during the week ended May 4, 2002, after a relatively sharp rise from 138.2 to 138.39 in the preceding week. Over a longer period, the project costs, as reflected in the Index, showed stagnation at levels a year ago. The manufacturing price index as reflected in WPI for manufactured products was positive for the third week, after YoY declines in the previous seven weeks.
Among project inputs, prices of non-metallic mineral products increased in the latest two weeks. The week ended April 27 saw 1 per cent rise in cement prices and 2 per cent fall in building bricks. The following week saw a 5 per cent price rise in building bricks. The WPI for cement has shown YoY declines since mid-November 2001. This is due to a sharp 14 per cent average YoY rise in cement production during December 2001-April 2002.
The week ended May 4 witnessed no change in the WPI for basic metals, alloys and metal products. The preceding week, however, saw some rise due to higher prices of copper wire (15 per cent), partially neutralised by a fall in forging prices (6 per cent), steel furniture (5 per cent) and LPG cylinders (3 per cent). In machinery and machine tools sub-group, prices of other electrical equipment and systems rose by 4 per cent and those of power-driven pumps and switchgears by 1 per cent during the week ended May 4.
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