India's WPI-based inflation at 0.11% in December 2014

15 Jan '15

2 min read

The annual rate of inflation, based on monthly wholesale price index (WPI), stood at 0.11 per cent for December 2014 (over December 2013), according to the provisional data released by the Office of the Economic Adviser, Ministry of Commerce and Industry.

In comparison, annual rate of inflation was 0.0 per cent for November 2014 and 6.40 per cent during December 2013. Build up inflation rate in the financial year 2014-15 turned negative and was at minus 0.28 per cent compared to a build up rate of 5.58 per cent in the corresponding period of the previous year.

Likewise, the official WPI for all commodities (Base: 2004-05 = 100) for the month of December, 2014 declined by 0.9 per cent to 179.8 form 181.5 for the previous month.

The index for manufactured products (weight 64.97 per cent) for December, 2014 declined by 0.3 per cent to 154.9 from November 2014’s level of 155.4. The index for textiles sub-group also declined by 0.4 per cent to 142.2 from 142.8 for the previous month due to lower price of cotton yarn (2 per cent) and tyre cord fabric, woollen textiles and manmade fibre (1 per cent each). However, the price of gunny and hessian cloth and jute yarn each moved up 2 per cent.

The index for primary articles (weight 20.12 per cent) declined by 1.0 per cent to 249.0 from 252.4 for the previous month. The index for fuel and power (weight 14.91 per cent) declined by 2.4 per cent to 194.6 from 199.3 for the previous month due to lower prices of oil, fuel, petrol and kerosene.

Meanwhile, the all-India consumer price index (CPI) on base 2010=100 stood at 5.00 in December, 2014 compared to 4.38 in November, 2014 and 9.87 in December, 2013, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)

Fibre2fashion News Desk - India

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