India's WPI inflation rises slightly to 0.73% in December 2023

The month-over-month change in WPI index for the month of December 2023 stood at – (0.85) per cent as compared to November 2023.

“Positive rate of inflation in December, 2023 is primarily due to increase in prices of food articles, machinery & equipment, other manufacturing, other transport equipment and computer, electronics & optical products etc,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of December 2023 decreased to 151.6 from previous month’s 152.9.

The index for manufactured products (weight 64.23 per cent) for December 2023 reached 140.1 from 140.4 in November. The index for ‘Manufacture of Textiles’ sub-group declined to 133.6 from 134.3 in November 2023, while the index for ‘Manufacture of Wearing Apparel’ rose to 152.4 in December 2023 from 151.6 in the previous month.

The index for primary articles (weight 22.62 per cent) decreased to 182.9 in December from 186.9 in November 2023, while that for fuel and power (weight 13.15 per cent) was 154.2 in December, down from 155.3 in November 2023.

Meanwhile, the all-India inflation rate for consumer price index (CPI) on base 2012=100 stood at 5.69 (provisional) in December 2023 compared to 5.55 (final) in November 2023 and 5.72 in December 2022, according to the National Statistics Office, under the ministry of statistics and programme implementation.

Fibre2Fashion News Desk (RKS)