India’s headline retail inflation rate, as measured by the Consumer Price Index (CPI), fell below 2 per cent again in September, with data released on Monday by the Ministry of Statistics and Programme Implementation (MoSPI) showing that it came in at an over-eight-year low of 1.54 per cent last month. A fall in vegetable prices was a key driver, although the impact of the Goods and Services Tax (GST) cut that came into effect on September 22 will reflect in the data for October, economists said.

At 1.54 per cent, CPI inflation – which measures the change in consumer prices in a month compared to the same period a year ago – in September is the lowest since it was at an all-time low of 1.46 per cent in June 2017 under the current data series. As such, the latest inflation print is the s

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