Home / Knowledge / News / Textiles / WPI inflation for textiles rises 0.2% in February 2017
WPI inflation for textiles rises 0.2% in February 2017
14
Mar '17
India's annual rate of inflation, based on monthly wholesale price index (WPI), increased to 6.55 per cent for February 2017 over corresponding month of the previous year. The index for textiles sub-group rose by 0.2 per cent to 142.6 in February from 142.3 in January 2017 due to higher price of tyre cord fabric (4 per cent) and man-made fabric (2 per cent).

Build up inflation rate in the financial year 2016-17 so far stood at 5.82 per cent compared to a build up rate of minus 1.14 per cent in the same period of the 2015-16. Annual rate of inflation was 5.25 per cent for January 2017 and minus 0.85 per cent in February 2016.

Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of February, 2017 rose by 0.5 per cent to 185.5 from 184.6 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 February, 2017 remained unchanged at its previous month's level of 158.8. The index for textiles sub-group rose by 0.2 per cent to 142.6 from 142.3 for the previous month due to higher price of tyre cord fabric (4 per cent) and man-made fabric (2 per cent). However, the price of jute sacking cloth and jute sacking bag (1 per cent each) declined.

The index for primary articles (weight 20.12 per cent) rose by 0.9 per cent to 258.1 from 255.7 for the previous month. The index for fuel and power (weight 14.91 per cent) also rose by 1.3 per cent to 203.8 from 201.2 for the previous month due to higher prices of coking coal, aviation turbine fuel, bitumen, kerosene, high speed diesel, LPG and lignite.

The Government of India has taken a number of measures to control inflation. The steps taken, inter alia, include, (i) increased allocation for Price Stabilization Fund in the budget 2017-18 to check volatility of prices of essential commodities, in particular of pulses; (ii) created buffer stock of pulses through domestic procurement and imports; (iii) announced higher Minimum Support Prices so as to incentivise production; (iv) issued advisory to States/UTs to take strict action against hoarding and black marketing under the Essential Commodities Act 1955 and the Prevention of Black-marketing and Maintenance of Supplies of Essential Commodities Act, 1980; (v) imposed 20 per cent duty on export of sugar; and (vi) reduced import duty on potatoes, wheat and palm oil. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Mario Crosta

Textiles | On 23rd Oct 2018

'Global textile machinery market may grow at 14% by 2020'

Analysts have predicted that the global textile machinery market may...

Cotton production and exports in West Africa. Courtesy: FAS/USDA

Textiles | On 23rd Oct 2018

Record cotton production to drive West Africa exports

Cotton exports from West Africa for 2018-19 are projected to surpass...

Courtesy: Prudence Earl on Unsplash

Textiles | On 23rd Oct 2018

Sri Lanka's textile exports up 4.7% in Jan-July '18

Sri Lanka’s earnings from textiles and garments exports increased by...

Interviews View All

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Amrit Sethia, SOIE

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Evelyne Cholet, UCMTF

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search