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Cheaper food prices lower retail inflation in February

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Lower food prices halved India’s in February 2019 to 2.57 percent, from 4.44 percent during the corresponding month of last year, official data showed on Tuesday.

Cheaper food prices lower retail inflation in February
Lower food prices halved India's retail inflation in February 2019 to 2.57 percent, from 4.44 percent during the corresponding month of last year

Accordingly, the Consumer Food Price Index (CFPI) in the month under review stood at (-)0.66 percent from 3.26 percent in February 2018.

However, on sequential basis, the Consumer Price Index (CPI) in February 2019 (2.57 percent) was higher than January 2019’s retail inflation rate of 1.97 percent.

According to the Central Statistics Office data, the CFPI had deflated by (-)2.24 percent in January 2019.