India's Retail Inflation Hits Eight-Year Low
India’s retail inflation cooled to 1.54% in September, driven by a sharp decline in food prices, government data showed.
The reading was down from 2.07% in August and below a Reuters poll estimate of 1.7%, marking the lowest level since June 2017.
- Food prices saw a 2.28% year-on-year drop in September.
- Vegetable prices plummeted 21.38% following a 15.92% decline in the previous month.
The figure has now fallen below the Reserve Bank of India’s (RBI) tolerance band of 2%–6% for the second time in three months.
Author's summary: India's retail inflation hits 8-year low at 1.54%.