Wood Panel Price Index Climbs In India

The annual rate of inflation based on the India Wholesale Price Index (WPI) was 3.36 percent in June 2024. The positive rate of inflation was primarily due to increase in prices of food, manufactured food products, crude petroleum and natural gas, mineral oils and other manufacturing. The index increased to 141.9 in June 2024 up from 141.7 for May, 2024.

Out of the 22 NIC two-digit groups for manufactured products, 8 groups witnessed an increase in prices, 10 groups witnessed a decrease in prices and 4 groups witnessed no change in prices.

The price index for wood panels continued to climb in June on the back of firm demand. The price index for wood veneers moved a little higher while the index for sawnwood fell slightly.

Some of the groups that recorded decreases in prices were basic metals, other non-metallic mineral products, fabricated metal products, pharmaceuticals, medicinal chemical and botanical products, machinery and equipment.

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