NEW DELHI: The retail inflation, excluding gold, is expected to remain negative over the next two months, according to a report by SBI Research, highlighting an unusually low-inflation environment in India.

India’s CPI inflation moderated to an all-time low of 0.25 per cent year-on-year in October this year, largely driven by declining prices in food and beverages. Vegetables, pulses, and spices continued to fall, while fruit and oil & fat inflation also moderated. Gold prices, however, drove up personal care and effects inflation to 57.8 per cent; excluding gold, headline CPI turned negative at -0.57 per cent YoY.

Core CPI remained largely steady at 4.33 per cent in October compared to 4.36 per cent in September, but Core CPI excluding gold came down to 2.6 per cent. SBI Research noted

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