India's annual rate of inflation, based on monthly wholesale price index (WPI), continued to remain high and was up slightly in August 2021 compared to the previous month. In August, WPI inflation stood at 11.37 per cent, compared to 11.16 per cent in July, and an all-time high of 12.94 per cent in May 2021. WPI inflation for textiles rose to 16.99 per cent.

“The high rate of inflation in August 2021 is primarily due to rise in prices of non-food articles, mineral oils; crude petroleum & natural gas; 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 August 2021 increased to 135.9 from previous month's 134.5.

The index for manufactured products (weight 64.23 per cent) for August 2021 increased to 133.0 from 132.0 for the month of July 2021. The index for ‘Manufacture of Textiles’ sub-group increased to 132.2 from previous month's 130.5, while the index for ‘Manufacture of Wearing Apparel’ also rose to 142.0 from 140.8 in July 2021.

The index for primary articles (weight 22.62 per cent) rose to 155.8 in August 2021 from previous month's 153.4. The index for fuel and power (weight 13.15 per cent) too grew to 116.0 from 114.3 in July 2021.

Meanwhile, the all-India inflation rate for consumer price index (CPI) on base 2012=100 stood at 5.30 (provisional) in August 2021 compared to 5.59 (final) in July 2021 and 6.69 in August 2020, according to the Central Statistics Office, ministry of statistics and programme implementation.

Fibre2Fashion News Desk (RKS)

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