India's annual rate of inflation, based on monthly wholesale price index (WPI), for October 2020, stood at 1.48 per cent over October 2019. The index for textiles incrased by 1.15 per cent and for apparel by 0.07 per cent in October, 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 October 2020 increased by 1.48 per cent to 123.8, showing positive inflation for the third consecutive month since April this year when the economy was hit by COVID-19 pandemic and lockdowns.

The index for manufactured products (weight 64.23 per cent) for October 2020 increased by 2.12 per cent to 120.3 from 119.8 for the month of September 2020. The index for ‘Manufacture of Wearing Apparel’ sub-group also increased by 0.07 per cent to 138.2. The index for ‘Manufacture of Textiles’ sub-group too rose by 1.15 per cent to 114.7.

The index for primary articles (weight 22.62 per cent) rose by 4.74 per cent to 152.4. The index for fuel and power (weight 13.15 per cent) however decreased by 10.95 per cent.

Meanwhile, the all-India inflation rates based on consumer price index (CPI) on base 2012=100 stood at 7.61 (provisional) in October 2020 compared to 7.27 (final) in September 2020, according to the Central Statistics Office, ministry of statistics and programme implementation.

Fibre2Fashion News Desk (RKS)

Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.