India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 2.93 per cent for the month of February 2019. The index for textiles rose by 0.2 per cent while for apparel it declined by 0.7 per cent in February, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of February 2019 rose by 0.3 per cent to 119.5 from the previous month’s level of 119.2, the data showed.

The index for manufactured products (weight 64.23 per cent) for February 2019 rose by 0.2 per cent to 118.1 from the previous month’s level of 117.9. The index for ‘Manufacture of Wearing Apparel’ sub-group declined by 0.7 per cent to 139.2 from 140.2 for the previous month due to lower price of knitted and crocheted apparel (2 per cent).

The index for ‘Manufacture of Textiles’ sub-group rose by 0.2 per cent to 119.0 from 118.8 for the previous month due to higher price of weaving and finishing of textiles (1 per cent). However, the price of texturised and twisted yarn, cordage, rope, twine and netting, and other textiles (1 per cent each) declined.

The index for primary articles (weight 22.62 per cent) declined by 0.2 per cent to 134.2 from 134.5 for the previous month. The index for fuel and power (weight 13.15 per cent) rose by 1.7 per cent to 101.0 from 99.3 for the previous month due to higher price of furnace oil, naphtha, HSD, petroleum coke, petrol and kerosene.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 2.57 (provisional) in February 2019 compared to 1.97 (final) in January, 2019 and 4.44 in February, 2018, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)

Fibre2Fashion News Desk – India

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