India's WPI inflation rises to 3.55% in July 2016

In comparison, annual rate of inflation was 1.62 per cent for June 2016 and minus 4.00 per cent during July 2015. Build up inflation rate in the financial year 2016-17 so far was 4.91 per cent compared to a build up rate of 0.85 per cent in the corresponding period of the previous year.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of July, 2016 rose by 1.00 per cent to 183.9 from 182.0 for the previous month.

The index for manufactured products (weight 64.97 per cent) for July, 2016 rose by 0.3 per cent to 156.4 from 156.0 for the previous month. The index for textiles sub-group also rose by 0.4 per cent to 141.5 from 140.9 for the previous month due to higher price of jute sacking cloth and cotton yarn (2 per cent each), and man-made fabric (1 per cent). However, the price of gunny and hessian cloth declined 2 per cent.

The index for primary articles (weight 20.12 per cent) rose by 2.5 per cent to 269.5 from 262.8 for the previous month. On the other hand, the index for fuel and power (weight 14.91 per cent) rose by 0.8 per cent to 187.9 from 186.5 for the previous month due to higher prices of non-coking coal, furnace oil, and aviation turbine fuel.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 6.07 (provisional) in July, 2016 compared to 5.77 in June, 2016 and 3.69 in July, 2015, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)

Fibre2Fashion News Desk – India