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India's WPI inflation rises to 3.39% in December 2016
16
Jan '17
India’s annual rate of inflation, based on monthly wholesale price index (WPI), accelerated marginally to 3.39 per cent for December 2016 over corresponding month of the previous year. Build up inflation rate in the financial year 2016-17 so far stood at 4.28 per cent compared to a build up rate of 0.40 per cent in the same period of the 2015-16.

Annual rate of inflation was 3.15 per cent for November 2016 and minus 1.06 per cent in December 2015.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of December, 2016 declined by 0.2 per cent to 182.8 from 183.1 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 December, 2016 rose by 0.1 per cent to 158 from 157.9 for the previous month. The index for textiles sub-group, however, declined by 0.1 per cent to 141.6 from 141.8 for the previous month due to lower price of jute sacking bag (5 per cent), jute sacking cloth (2 per cent) and tyre cord fabric (1 per cent).  However, the price of gunny and hessian cloth (3 per cent) and man-made fabric (1 per cent) moved up.

The index for primary articles (weight 20.12 per cent) declined by 1.2 per cent to 256.3 from 259.4 for the previous month. On the other hand, the index for fuel and power (weight 14.91 per cent) rose by 0.7 per cent to 192.1 from 190.7 for the previous month due to higher prices of furnace oil, kerosene, petrol, LPG and high speed diesel.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 3.41 (provisional) in December, 2016 compared to 3.63 (final) in November, 2016 and 5.61 in December, 2015, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)

Fibre2Fashion News Desk – India


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