MeraNews Network, New Delhi: Retail inflation fell to a one-year low of 3.31 percent in October on the back of cheaper kitchen staples, fruits, and protein-rich items.
Official data released on Monday showed that the inflation based on the Consumer Price Index (CPI) was 3.7 percent in September 2018 and 3.58 percent in October 2017. The retail inflation number is the lowest since September 2017 when it touched 3.28 percent.
According to the Central Statistics Office data, the rate of price rise in the food basket contracted by 0.86 percent in October compared to 0.51 percent rise in September. Vegetable prices declined by 8.06 percent in October against a 4.15 percent contraction in September. Inflation also slowed to 0.35 percent in the fruit basket as against 1.12 percent 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 percent for the 'fuel and light' category against 8.47 percent in the previous month.