Retail inflation falls to 3.31% in October from 3.70% in September

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.

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 % 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.