- Wealth PMS
The first official Consumer Price Index (CPI) in the “new series” comes up, with the headline number at 7.5%. (Source: MOSPI) This is much lower than expected, even though it’s higher than the corresponding WPI number of 6.55%.
At the component level, the drop is because of the high weight of food (which is nearly 50% of the CPI).
As you can see, fuel inflation, clothing, housing and household requisites are all above 12%, as is “others” which is everything that can’t be categorized otherwise. Education costs and personal care (FMCG?) are up marginally while transport costs are shy of 10% (largely because the price of diesel hasn’t moved much).
We don’t have enough data to plot solid graphs, but the CPI (annualized compared to Jan 2011), as compared to the WPI throws a graph that shows we’re dropping on the inflation front:
On a different note: the MOSPI site makes it really really difficult to collect this data. This month, they reordered the items! The statisticians should be forced to provide standard, CSV format data; this kind of silly trick is inexcusable. (It really takes effort to distort this data, and I have a strong feeling it’s malicious, to make it more difficult for us to mine it. It’s like giving your car for hire and then switching the accelerator and clutch pedals every alternate day.