India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 2.48 per cent for the month of February 2018 over same month of last year. The index for apparel increased by 0.4 per cent to 139.0 in February, according to the provisional data released by the Office of the Economic Adviser, Ministry of Commerce and Industry.
The official WPI for all commodities (Base: 2011-12 = 100) for the month of February 2018 remained unchanged at its previous month’s level of 115.8, the data showed. The index for manufactured products (weight 64.23 per cent) for February 2018 rose by 0.4 per cent to 115.2 from 114.7 for the previous month. The index for ‘Manufacture of Wearing Apparel’ subgroup also rose by 0.4 per cent to 139.0 from 138.5 for the previous month due to higher price of men’s/boys suits, coats and jackets and babies garments (1 per cent each).
Likewise, the index for ‘Manufacture of Textiles’ sub-group rose by 0.6 per cent to 113.7 from 113.0 for the previous month due to higher price of weaving & finishing of textiles, cotton yarn, synthetic yarn and manufacture of made-up textile articles, except apparel (1 per cent each). However, the price of manufacture of other textiles (1 per cent) declined.
The index for primary articles (weight 22.62 per cent) declined by 1.3 per cent to 128.0 from 129.7 for the previous month. The index for fuel and power (weight 13.15 per cent), on the other hand, increased by 1.2 per cent to 98.1 from 96.9 for the previous month due to higher price of non-coking coal, ATF, kerosene, lube oils, furnace oil, HSD, petrol and petroleum coke.