Retail inflation cools to year-low of 3.31% in October

The rate of price rise in the food basket contracted by 0.86 per cent in October compared to 0.51 per cent rise in September, according to the Central Statistics Office data.

Retail inflation fell to a one-year low of 3.31% in October on the back of cheaper kitchen staples, fruits and protein-rich items, official data released Monday showed.

A street vendor sells vegetables in a wholesale market in Guwahati. (AP Photo)

The inflation based on the Consumer Price Index (CPI) was 3.7% in September 2018 and 3.58% in October 2017. The retail inflation number is the lowest since September 2017 when it touched 3.28 %.

The rate of price rise in the food basket contracted by 0.86 % in October compared to 0.51 per cent rise in September, according to the Central Statistics Office data.

Vegetable prices declined by 8.06 % in October against a 4.15% contraction in September.

Inflation also slowed to 0.35 % in the fruit basket as against 1.12 % recorded a month ago.

The retail inflation also cooled in protein-rich items like cereals, eggs, milk and related products.

However, inflation quickened to 8.55 % for the ‘fuel and light’ category against 8.47% in the previous month.