ADVERTISEMENTREMOVE AD

Retail Inflation Cools to 3.31% on Cheaper Vegetables, Pulses

The ease in inflation augurs well for the economy in the face of rising crude oil prices.

Published
Business
1 min read
story-hero-img
i
Aa
Aa
Small
Aa
Medium
Aa
Large
Hindi Female

Inflation based on Consumer Price Index (CPI), or retail inflation for the month of October eased to a multi-month low of 3.31 percent from 3.70 percent in September, government data showed on Monday, 11 November.

Retail inflation had fallen to a ten-month low of 3.69 percent before rising marginally to 3.77 percent in September on the back of slightly higher food and fuel prices.

Fall in prices of vegetables and pulses in the month of October aided in dragging down the inflation further. For the month of October, vegetables saw a negative inflation of 11.66 percent while pulses saw inflation cooling by 8.70 percent.

The overall food inflation came down by 0.86 percent during the month.

ADVERTISEMENTREMOVE AD

The ease in inflation means it is well under the Reserve Bank of India’s (RBI) target of 4 percent. RBI had recently revised its inflation projection downwards to 3.9-4.5 percent from 4.8 percent for the second half of the current fiscal year.

In another set of data, the September industrial production inched up marginally to 4.5 percent from 4.3 percent in August.

(With inputs from PIB)

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

0

Read Latest News and Breaking News at The Quint, browse for more from news and business

Speaking truth to power requires allies like you.
Become a Member
3 months
12 months
12 months
Check Member Benefits
Read More
×
×