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WPI inflation for apparel up 1.3% in January 2019

14
Feb '19
Courtesy: Pxhere
Courtesy: Pxhere
India’s annual rate of inflation, based on monthly wholesale price index (WPI), eased to ten-month low of 2.76 per cent for the month of January 2019. The index for apparel rose by 1.3 per cent to 140.2 in January, 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 January 2019 declined by 0.7 per cent to 119.2 from the previous month’s level of 120.1, the data showed.

The index for manufactured products (weight 64.23 per cent) for January 2019 declined by 0.3 per cent to 117.9 from the previous month’s level of 118.3. The index for ‘Manufacture of Wearing Apparel’ sub-group rose by 1.3 per cent to 140.2 from 138.4 for the previous month due to higher price of woven apparel except fur apparel (2 per cent).

The index for ‘Manufacture of Textiles’ sub-group, on the other hand, declined by 0.3 per cent to 118.8 from 119.2 for the previous month due to higher price of lower price of synthetic yarn, knitted and crocheted fabrics, cordage, rope, twine and netting, other textiles, texturised and twisted yarn, and weaving and finishing of textiles (1 per cent each).  However, the price of viscose yarn (2 per cent) and woollen yarn (1 per cent) moved up.

The index for primary articles (weight 22.62 per cent) declined by 0.1 per cent to 134.5 from 134.7 for the previous month. The index for fuel and power (weight 13.15 per cent) declined by 4.1 per cent to 99.3 from 103.5 for the previous month due to lower price of ATF, furnace oil, bitumen, LPG, naphtha, kerosene, petrol and HSD.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 2.05 (provisional) in January 2019 compared to 2.11 (final) in December, 2018 and 5.07 in December, 2018, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)

Fibre2Fashion News Desk – India


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