India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at minus 4.05 per cent for July 2015 (over July 2014), according to the provisional data released by the Office of the Economic Adviser, Ministry of Commerce and Industry. In comparison, annual rate of inflation was minus 2.40 per cent for June 2015 and 5.41 per cent during July 2014. Build up inflation rate in the financial year 2014-15 so far was 0.80 per cent compared to a build up rate of 2.61 per cent in the corresponding period of the previous year. Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of July, 2015 declined by 0.6 per cent to 177.5 from 178.6 for the previous month. The index for manufactured products (weight 64.97 per cent) for July, 2015 declined by 0.3 per cent to 153.7 from June 2015’s level of 154.2. The index for textiles sub-group, rose by 0.2 per cent to 141.2 from 140.9 for the previous month due to higher price of jute sacking cloth (4 per cent), tyre cord fabric (3 per cent ) and cotton yarn, gunny and hessian cloth, cotton fabric, man-made fabric and jute sacking bag (1 per cent each). However, the price of jute yarn (2 per cent) and man-made fibre and woollen textiles (1 per cent each) declined. The index for primary articles (weight 20.12 per cent) declined by 0.5 per cent to 247.2 from 248.4 for the previous month. The index for fuel and power (weight 14.91 per cent) also declined by 2.0 per cent to 187.1 from 191.0 for the previous month due to lower price of furnace oil, aviation turbine fuel, high speed diesel, naphtha, and petrol. Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 3.78 (provisional) in July, 2015 compared to 5.40 in June, 2015 and 7.39 in July, 2014, according to the Central Statistics Office, Ministry of Statistics and Programme Implementation.
