Retail inflation eased to a fresh low of 4.38 per cent in November, building a case for the Reserve Bank of India to effect the much-anticipated monetary policy shift in its next bi-monthly review on February 3, if not earlier.
This is the lowest level of Consumer Price Index (CPI) based inflation since the government started computing the new series of data in January 2012. It stood at 5.52 per cent in October 2014, while the index was over double the current level at 11.16 per cent in November 2013.
Food inflation also came down to 3.14 per cent in November as against 5.59 per cent in the previous month. Retail prices of vegetables declined by 10.9 per cent as against a decline of 1.45 per cent in October, according to the data released by the ministry of statistics and programme implementation on Friday.
Price rise in fruits slowed to 13.74 per cent from 17.49 per cent in October. (With PTI inputs)