India's WPI inflation rises to 3.74% in August 2016

Annual rate of inflation was 3.55 per cent for June 2016 and minus 5.06 per cent in August 2015.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of August, 2016 declined by 0.4 per cent to 183.1 from 183.9 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 64.97 per cent) for August, 2016 rose by 0.2 per cent to 156.7 from 156.4 for the previous month. The index for textiles sub-group also rose by 0.4 per cent to 142.1 from 141.5 for the previous month due to higher price of jute sacking bag (5 per cent) and jute sacking cloth, cotton yarn and man-made fabric (1 per cent each). However, the price of gunny and hessian cloth declined 2 per cent.

The index for primary articles (weight 20.12 per cent) declined by 0.2 per cent to 268.9 from 269.5 for the previous month. Likewise, the index for fuel and power (weight 14.91 per cent) declined by 3 per cent to 182.2 from 187.9 for the previous month due to lower prices of high speed diesel, aviation turbine fuel, petrol, furnace oil, LPG, kerosene, and bitumen.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 5.05 (provisional) in August, 2016 compared to 6.07 (final) in July, 2016 and 3.74 in August, 2015, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)

Fibre2Fashion News Desk – India