India's annual rate of inflation, based on monthly wholesale price index (WPI), continued to remain high in July 2021, though slightly down from the previous month. In July, WPI inflation stood at 11.16 per cent, compared to 12.07 per cent in June, and an all-time high of 12.94 per cent in May 2021. WPI inflation for textiles increased to 15.59 per cent.

"The high rate of inflation in July 2021 is primarily due to low base effect and rise in prices of crude petroleum & natural gas; mineral oils; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc as compared the corresponding month of the previous year," the Office of Economic Adviser, department for promotion of industry and internal trade, under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of July 2021 increased to 134.5 from previous month's 133.7.

The index for manufactured products (weight 64.23 per cent) for July 2021 increased to 132.0 from 131.5 for the month of June 2021. The index for ‘Manufacture of Textiles’ sub-group increased to 130.5 from previous month's 129.4, while the index for ‘Manufacture of Wearing Apparel’ also rose to 140.8 from 139.9 in June 2021.

The index for primary articles (weight 22.62 per cent) rose to 153.4 in July 2021 from previous month's 151.8. The index for fuel and power (weight 13.15 per cent) too grew to 114.3 from 113.7 in June 2021.

Meanwhile, the all-India inflation rate for consumer price index (CPI) on base 2012=100 stood at 6.73 (provisional) in July 2021 compared to 6.26 (final) in June 2021, according to the Central Statistics Office, ministry of statistics and programme implementation.

Fibre2Fashion News Desk (RKS)

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