Inflation Drops To 5-Month Low: How Election-Bound States Rank

In fact, the two items that had previously driven consumer prices up, edible oil and fuel, became cheaper last month, according to the recently released government data.

While many advanced economies have been grappling with elevated prices for months, consumer price inflation in India dropped to a five-month low in October. Apart from prices of cereals, fruits, and pulses, the changes in most other items in October compared to the same month last year were relatively subdued. In fact, the two items that had previously driven consumer prices up, edible oil and fuel, became cheaper last month, according to the recently released government data. 

Here are the key highlights of the data released on Monday: 

On Sunday, The Economist published an article analyzing the inflation trend in developed countries. Their analysis indicates that inflation remains quite entrenched, even more so now than in 2022. The journal concludes that the situation continues to be challenging in the US, Canada, UK, and Australia, with some improvement seen in Italy, Spain, Japan, and South Korea.