Retail inflation fell to a four-month low of 4.87 percent in October, mainly due to lower food prices, according to government data released on Monday.
Retail inflation based on the Consumer Price Index (CPI) fell to a three-month low of 5.02 percent in September.
The previous low inflation rate was recorded at 4.87 percent in June.
The Reserve Bank’s Monetary Policy Committee (MPC), at its October meeting, forecast CPI inflation at 5.4 percent for 2023-24, a moderation from 6.7 for hundred from 2022-23.
The government has tasked the RBI to ensure that CPI inflation remains at 4 per cent with a margin of 2 per cent on either side. The central bank mainly takes retail price inflation into account when setting its fortnightly monetary policy.
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