India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 4.43 per cent for the month of May 2018 over same month of last year. The index for apparel increased by 1.2 per cent to 141.0 in May, 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 May 2018 rose by 0.9 per cent to 117.9 from the previous month’s level of 116.8, the data showed. The index for manufactured products (weight 64.23 per cent) for May 2018 rose by 0.6 per cent to 116.8 from 116.1 for the previous month. The index for ‘Manufacture of Wearing Apparel’ sub-group rose by 1.2 per cent to 141.0 from 139.3 for the previous month due to higher price of woven apparel (except fur apparel) and knitted and crocheted apparel (1 per cent each).
The index for ‘Manufacture of Textiles’ sub-group too rose by 1.0 per cent to 115.5 from 114.4 for the previous month due to higher price of texturised and twisted yarn (2 per cent), weaving and finishing of textiles, synthetic yarn, manufacture of knitted and crocheted fabrics, manufacture of made-up textile articles (except apparel), cotton yarn and woollen yarn (1 per cent each). However, the price of manufacture of other textiles (3 per cent) and viscose yarn (1 per cent) declined.
The index for primary articles (weight 22.62 per cent) rose by 1.1 per cent to 130.6 from 129.2 for the previous month. The index for fuel and power (weight 13.15 per cent) also rose by 2.2 per cent to 101.1 from 98.9 for the previous month due to due to higher price of naphtha, petroleum coke, furnace oil, HSD, kerosene and petrol. However, the price of LPG and bitumen declined.
Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 4.87 (provisional) in May 2018 compared to 4.58 (final) in April, 2018 and 2.18 in May, 2017, according to the Central Statistics Office, Ministry of Statistics and Programme Implementation.