Inflation falls to 5.52% in October

Zee Media Bureau

New Delhi: Bringing good news to the common man, the retail inflation dropped to 5.52 percent in October on falling prices of food and oil, the lowest since India started computing Consumer Price Index (CPI) in January 2012.

CPI inflation is on the decline since July.

The retail inflation was at 6.46 percent in September.

The recent slowdown in inflation has largely been due to falls in local food prices, which account for 50 percent of the CPI basket.

Reserve Bank has been mainly considering CPI inflation while deciding on its bi-monthly monetary policy.

In its last monetary policy, the RBI had maintained a status quo in interest rate citing worries on the inflation front despite industry demanding reduction.

With agency inputs