WPI inflation for textiles rises 0.2% in March 2017

17 Apr '17

2 min read

India's annual rate of inflation, based on monthly wholesale price index (WPI), increased to 5.70 per cent for March 2017 over corresponding month of the previous year. The index for textiles sub-group rose by 0.2 per cent to 142.9 in March from 142.6 in February 2017 due to higher price of tyre cord fabric (5 per cent) and man-made fibre (1 per cent).

Build up inflation rate in the financial year 2016-17 so far stood at 5.70 per cent compared to a build up rate of minus 0.45 per cent in the same period of the 2015-16. Annual rate of inflation was 6.55 per cent for February 2017 and minus 0.45 per cent in March 2016.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of March, 2017 declined by 0.1 per cent to 185.3 from 185.5 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 March, 2017 declined by 0.1 per cent to 158.7 from 158.8 for the previous month. The index for textiles sub-group rose by 0.2 per cent to 142.9 from 142.6 for the previous month due to higher price of tyre cord fabric (5 per cent) and gunny and hessian cloth, man-made fibre, jute yarn and cotton fabric (1 per cent each).

The index for primary articles (weight 20.12 per cent) declined by 0.2 per cent to 257.5 from 258.1 for the previous month. The index for fuel and power (weight 14.91 per cent) also declined by 0.1 per cent to 203.7 from 203.8 for the previous month due to lower price of bitumen and furnace oil. However, the price of LPG and aviation turbine fuel moved up.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 3.81 (provisional) in March, 2017 compared to 3.65 (final) in February, 2017 and 4.83 in March, 2016, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)

Fibre2Fashion News Desk – India

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