India’s WPI inflation for textiles down 0.4% in Dec

India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 3.58 per cent for the month of December 2017, over same month of last year. The index for ‘Manufacturing of Textiles’ group declined by 0.4 per cent to 113.0. The index for ‘Manufacturing of Wearing Apparel’ group rose by 1 per cent to 138.9 in December.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of December 2017 declined by 0.5 per cent to 115.7 from 116.3 for the previous month, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry.

The index for manufactured products (weight 64.23 per cent) for December 2017 rose by 0.1 per cent to 114.0 from 113.9 for the previous month. The index for textiles sub-group declined by 0.4 per cent to 113.0 from 113.5 for the previous month due to lower price of cordage, rope, twine and netting, and weaving and finishing of textiles (2 per cent each).

However, the price of viscose yarn (2 per cent) and manufacture of other textiles, woollen yarn, texturised and twisted yarn, manufacture of knitted and crocheted fabrics, cotton yarn and synthetic yarn (1 per cent each) moved up.

The index for ‘Manufacture of Wearing Apparel’ sub-group rose by 1.0 per cent to 138.9 in December 2017 from 137.5 for the previous month due to higher price of manufacture of knitted and crocheted apparel (3 per cent).

The index for primary articles (weight 22.62 per cent) declined by 2.9 per cent to 131.7 from 135.6 for the previous month. The index for fuel and power (weight 13.15 per cent), on the other hand, increased by 1.6 per cent to 96.5 from 95 for the previous month due to higher price of bitumen, ATF, naphtha, furnace oil, kerosene, HSD, petrol and LPG.