New Delhi, Nov 13 (PTI) The retail inflation eased to a four-month low of 4.87 per cent in October, mainly due to cooling prices of food items, government data showed on Monday.

The Consumer Price Index (CPI) based retail inflation fell to a three-month low of 5.02 per cent in September.

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The previous low inflation was recorded at 4.87 per cent in June.

The Reserve Bank's Monetary Policy Committee (MPC), in its October meeting, projected CPI inflation at 5.4 per cent for 2023-24, a moderation from 6.7 per cent in 2022-23.

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The government has tasked the RBI to ensure the CPI inflation remains at 4 per cent with a margin of 2 per cent on either side. The central bank mainly factors in the retail inflation while arriving at its bi-monthly monetary policy.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)