India : India's WPI inflation eases to 3.15% in November 2016

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India's WPI inflation eases to 3.15% in November 2016

14
Dec '16

India’s annual rate of inflation, based on monthly wholesale price index (WPI), dropped to a five-month low of 3.15 per cent for November 2016 over corresponding month of the previous year. Build up inflation rate in the financial year 2016-17 so far stood at 4.45 per cent compared to a build up rate of 0.80 per cent in the same period of the 2015-16.

Annual rate of inflation was 3.39 per cent for October 2016 and minus 2.04 per cent in November 2015.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of November, 2016 rose by 0.1 per cent to 183.1 from 182.9 for the previous month, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry.

The index for manufactured products (weight 64.97 per cent) for November, 2016 rose by 0.3 per cent to 157.9 from 157.4 for the previous month. The index for textiles sub-group also rose by 0.1 per cent to 141.8 from 141.7 for the previous month due to higher price of tyre cord fabric (5 per cent), gunny and hessian cloth (2 per cent) and cotton fabric (1 per cent). However, the price of jute sacking cloth (4 per cent), jute yarn (2 per cent) and jute sacking bag (1 per cent) declined.

The index for primary articles (weight 20.12 per cent) declined by 0.9 per cent to 259.4 from 261.8 for the previous month. On the other hand, the index for fuel and power (weight 14.91 per cent) rose by 1.8 per cent to 190.7 from 187.3 for the previous month due to higher prices of aviation turbine fuel, bitumen, furnace oil, high speed diesel, kerosene, LPG and petrol.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 3.63 (provisional) in November, 2016 compared to 4.20 (final) in October, 2016 and 5.41 in November, 2015, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)

Fibre2Fashion News Desk – India

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