India’s retail inflation edged up in November, with headline CPI printing at 0.71%, lower than the CNBC-TV18 poll estimate of 0.8%. The print, however, was higher than October’s 0.25% month-on-month reading.

Food inflation stayed in deflation for the sixth consecutive month, though the rate of decline slowed considerably.

Food inflation remained firmly in deflation at –3.91%, compared with expectations of –3.5% and versus –5.02% in October. The moderation of food deflation by 111 basis points suggests rising costs for key essentials, particularly perishables.

Vegetables continued to drag the food basket, with inflation at –22.2% compared with –27.57% month-on-month. Pulses inflation stayed negative at –15.86%, against –16.15% previously.

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