The rate of inflation doubled in April due to a hike in the prices of fashion apparel and a drop in the prices of energy supplies. As per ONS, CPI jumped to 1.5% in April from that of 0.7% in March.
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Going forward, the textile industry scenario will depend on how the situation evolves in the domestic and international markets and faster return to normalcy will enable the industry to curtail the damages and improve on its growth prospects.
PE and PP prices do not track crude prices closely and the global crude oil price fluctuations in Q3/Q4 2016 barely impacted PE and PP prices.