India's WPI-based inflation at -0.73% in December

15 Jan '16

2 min read

India's annual rate of inflation, based on monthly wholesale price index (WPI), stood at minus 0.73 per cent for December 2015 (over December 2014), according to the provisional data released by the Office of the Economic Adviser, Ministry of Commerce and Industry.

In comparison, annual rate of inflation was minus 1.99 per cent for November 2015 and minus 0.50 per cent during December 2014. Build up inflation rate in the financial year 2014-15 so far was 0.74 per cent compared to a build up rate of minus 0.89 per cent in the corresponding period of the previous year.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of December, 2015 declined by 0.1 per cent to 177.4 from 177.6 for the previous month.

The index for manufactured products (weight 64.97 per cent) for December, 2015 declined by 0.3 per cent to 152.6 from 153.0 for the previous month. The index for textiles sub-group, declined by 0.1 per cent to 139.7 from 139.8 for the previous month due to lower price of cotton yarn and man-made fibre (1 per cent each). However, the price of jute sacking cloth, jute yarn and gunny and hessian cloth (2 per cent each) and tyre cord fabric, jute sacking bag and cotton fabric (1 per cent each) moved up.

The index for primary articles (weight 20.12 per cent) rose by 0.5 per cent to 257.8 from 256.5 for the previous month. On the other hand, the index for fuel and power (weight 14.91 per cent) declined by 0.6 per cent to 176.8 from 177.9 for the previous month due to lower prices of furnace oil, bitumen and petrol and aviation turbine fuel. However, the price of LPG moved up.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 5.61 (provisional) in December, 2015 compared to 5.41 in November, 2015 and 4.28 in December, 2014, according to the Central Statistics Office, Ministry of Statistics and Programme Implementation. (RKS)

Fibre2Fashion News Desk – India

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