India’s retail inflation, measured through consumer price index (CPI), fell to 5.88 per cent in November from 6.77 per cent recorded in October.
This is the first fall seen in retail inflation after a continuous rise for the past 10 months.
The slide in retail inflation was mainly due to fall in food inflation, which went down to 4.67 per cent in November. In October it was at 7.01 per cent, according to data released by the Ministry of Statistics and Programme Implementation on Monday.
Retail inflation meanwhile, has come down below the RBI’s upper tolerance limit of 6 per cent for the first time in the last 10 months.
It was dragged down by food inflation, which was down as prices of fruits and vegetables as well as those of meat and fish fell during November, compared to October.
Separately, the factory output, measured in terms of the Index of Industrial Production (IIP), contracted 4 per cent in October, according to official data released today.