India's annual rate of inflation, based on monthly wholesale price index (WPI), for February 2020, stood at 2.26 per cent over February 2019.

The index for textiles rose 0.3 per cent while for apparel it was down 0.1 per cent 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 2020 declined by 0.6 per cent to 122.2 from the previous month’s level of 122.9, the data showed.

The index for manufactured products (weight 64.23 per cent) for February 2020 rose by 0.2 per cent to 118.7 from the previous month level of 118.5. The index for ‘Manufacture of Wearing Apparel’ sub-group declined by 0.1 per cent to 137.8 from 138.0 for the previous month due to lower price of leather garments, including jackets (2 per cent). However, the price of babies' garments, knitted (2 per cent) moved up.

The index for ‘Manufacture of Textiles’ sub-group rose by 0.3 per cent to 116.7 from 116.4 for the previous month due to higher price of weaving and finishing of textiles, and manufacture of other textiles (1 per cent each). However, the price of manufacture of made-up textile articles, except apparel, manufacture of cordage, rope, twine and netting and manufacture of knitted and crocheted fabrics (1 per cent each) declined.

The index for primary articles (weight 22.62 per cent) declined by 2.8 per cent to 143.1 from 147.2 for the previous month. The index for fuel and power (weight 13.15 per cent), however, rose by 1.2 per cent to 103.9 from 102.7 for the previous month. While prices of naphtha, HSD, and petrol decreased, prices of LPG, petroleum coke, furnace oil, bitumen, kerosene and lube oils moved up.

Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 6.58 (provisional) in February 2020 compared to 7.59 (final) in January 2020 and 2.57 in February 2019, according to the Central Statistics Office, ministry of statistics and programme implementation.

Published On : 16-03-2020

Source : Fibre 2 Fashion

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