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Retail inflation falls below 7%

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Retail inflation fell below 7% in October led by moderating food prices Data released by the National Statistical Office (NSO) on 14 November showed retail inflation, as measured by the Consumer Price Index (CPI), slowed to a three-month low of 6.8% in October, lower than the 7.4% in the previous month.

The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 8.39% (Provisional) for the month of October, 2022 (over October, 2021) against 10.70% recorded in September, 2022. Decline in the rate of inflation in October, 2022 is primarily contributed by fall in the price of mineral oils, basic metals, fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products; minerals etc.