The composite ERIL Index of Cost of Project Inputs declined for the second month in May. The rise in the project outlay index on a y-o-y basis also dropped to 1 per cent, from 1.5 per cent in the previous month and 6.8 per cent a year ago. The annual price rise for manufactured products, which technically sets the pace for project investment, worked out to 3.1 per cent during the month. The total WPI-inflation also fell to 4.7 per cent from 7.5 per cent a year ago.

Computed by Economic Research India Pvt. Ltd, the ERIL Index measures the overall project cost escalation in terms of WPI of material inputs relevant in project construction.

The aggregate wholesale price index for non-metallic mineral products declined by 1.1 per cent during May due to lower price of marbles (3 per cent), polished granite and bricks and tiles (2per cent each), and grey cement (1 per cent). However, the price of railway sleeper moved up 1 per cent.

The combined WPI for basic metals, alloys and metal products declined 0.3 per cent during the month due to 5 per cent decline in silver prices, 3 per cent in gold and gold ornaments prices, 2 per cent in aluminium prices, and 1 per cent each in price of sheets, pig iron, steel rods, melting scrap and brass. However, the price of pressure cookers and steel structures (2 per cent each) and metal containers, ferrosilicon, copper and copper ingots, furniture and sponge iron (1 per cent each) moved up.

The consolidated WPI for machinery and machine tools group rose 0.4 per cent during the month due to higher price of ball/roller bearing and control equipment (6 per cent each), industrial furnaces (4 per cent), communication equipment and pump and assembly (3 per cent each), thresher, grinding/wet coffee machinery and batteries (2 per cent each), insulators, industrial valves, engines, electric motors, PVC insulated cable and electric generators (1 per cent each). However, the price of fibre optic cable and lamps (2 per cent each) and computers and TV sets (1 per cent each) declined over the month.

The total WPI for transport, equipment and parts declined 0.2 per cent due to lower price of bicycles (3 per cent) and motor vehicles (1 per cent). However, the price of shafts (all kinds) moved up one per cent.

ERIL Index of Cost of Project Inputs: March 2013
Wholesale Price Index: 2004-05=100
 
Index
Incr. (%) during
Incr. since Mar (%)
 
 
2013/12
2012/11
2012
2011
Non-metallic mineral products
164.8
3.8
6.5
-1.2
1.1
  Structural clay products
165.9
4.8
8.2
-1.0
0.9
  Cement & Lime
169.8
3.0
6.2
-1.5
1.1
Basic metals, alloys, metal products
163.8
-1.5
10.6
-0.6
1.8
  Ferrous Metals
154.6
-2.1
10.7
-0.1
2.0
  Non-Ferrous Metals
161.0
0.9
2.1
-0.3
0.9
Machinery & Machine tools
130.1
2.4
2.5
0.5
0.5
  Industrial Machinery
149.1
3.0
2.1
1.0
0.4
  Construction Machinery
136.9
1.9
2.6
0.1
1.9
  Air Conditioner & Refrigerators
114.2
3.6
1.0
0.4
0.1
  Non-electrical Machinery
123.3
0.6
1.8
0.2
-0.2
  Electrical Machinery, Batteries
135.2
3.0
2.8
0.8
0.2
  Electrical Accessories, Wires, Cables.
145.7
3.2
4.0
0.6
0.9
Transport equipment & parts
132.1
3.8
4.5
-0.1
0.7
  Automotives
131.6
4.2
4.7
-0.1
0.6
  Auto Parts
131.7
2.5
3.0
0.3
1.2
Composite ERIL Index for project inputs
146.9
1.0
6.8
-0.3
1.2
Overall WPI
171.6
4.7
7.5
0.9
0.9

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