Lowest CPI since 2017: Retail inflation cools to 1.54% in September; food prices remain in deflation for 4th straight month

India’s retail inflation significantly dropped to 1.54% in September 2025, the lowest since June 2017, driven by a fourth consecutive month of declining food prices. This easing reflects a favorable base effect and lower costs for vegetables, edible oils, and cereals, with food inflation hitting its lowest since December 2018.