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India's retail inflation, measured by the Consumer Price Index (CPI), dropped to a record low of 0.25% in October, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday. This figure marks the lowest inflation rate since at least 2012 and stands significantly below Bloomberg's estimate of 4%. The sharp decline is largely attributed to a high base effect from last year's elevated food prices and the recent GST rate cuts, which made household go
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FAQ :
India's retail inflation rate, measured by the Consumer Price Index (CPI), dropped to a record low of 0.25% in October.
The sharp decline is mainly due to the full month's impact of GST rate reductions implemented in September and a high base effect from elevated food prices in the previous year.
Food inflation saw a notable drop, with prices falling 5.02% year-on-year in October, led by a significant decrease in vegetable prices.
Experts believe the current moderation in prices might be temporary. The Reserve Bank of India projects retail inflation to rebound to around 4% in the next quarter as base effects fade.
The combination of lower inflation and reduced GST rates is expected to boost consumer sentiment and purchasing power, particularly in the household and food sectors.
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