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New Delhi, Oct 19: India’s retail inflation is expected to decline further in October 2025, driven by a high base effect, delayed seasonality in food prices, and the full impact of recent GST reforms, according to a report by Union Bank of India.

The report anticipates only a gradual pickup in price pressures in the months ahead.

“Our projection for Oct CPI is tracking below 0.50 per cent as on date. Food inflation too is expected to fall sharply in Oct and continue to be in negative zone during the coming winter months with impact of floods muted,” the report added.

Inflation has moderated sharply, reaching an eight-year low driven by a decline in food prices and the impact of GST rate rationalisation. The CPI (Consumer Price Index) inflation forecast for FY26 was lowered

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