India's annual rate of inflation, based on monthly wholesale price index (WPI), for October 2019, stood at 0.16 per cent over October 2018. The index for textiles dipped 0.2 per cent while for apparel it declined 0.4 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 2019 rose by 0.7 per cent to 122.2 from the previous month’s level of 121.3, the data showed.
The index for manufactured products (weight 64.23 per cent) for October 2019 remained unchanged at its previous month level of 117.9. The index for ‘Manufacture of Wearing Apparel’ sub-group declined by 0.4 per cent to 138.4 from 138.9 for the previous month due to lower price of manufacture of woven apparel, except fur apparel (1 per cent).
The index for ‘Manufacture of Textiles’ sub-group also declined by 0.2 per cent to 117.7 from 117.9 for the previous month due to lower price of synthetic yarn, made-ups, cotton yarn, texturised and twisted yarn and knitted and crocheted fabrics (1 per cent each). However, the price of cordage, rope, twine and netting (2 per cent) and weaving & finishing of textiles (1 per cent) moved up.
The index for primary articles (weight 22.62 per cent) rose by 2.1 per cent to 146.0 from 143.0 for the previous month. The index for fuel and power (weight 13.15 per cent) also rose by 1.9 per cent to 102.1 from 100.2 for the previous month due to higher price of furnace oil, bitumen, naphtha, ATF, kerosene, petrol, HSD and LPG.
Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 4.62 (provisional) in October 2019 compared to 3.99 (final) in September 2019 and 3.38 in October 2018, according to the Central Statistics Office, ministry of statistics and programme implementation.
Fibre2Fashion News Desk (RKS)