Consumer prices rose a mere 0.25 per cent in October compared to the same month last year as the reduction in the Goods and Services Tax (GST) rates and a favourable base effect helped drive down the headline retail inflation rate to an all-time low, according to government data released on Tuesday. Rural inflation was in the negative territory for the first time ever, with overall consumer prices 0.25 per cent lower in October compared to last year. In urban areas, retail prices were up 0.88 per cent.

The previous all-time low for headline retail inflation was 1.46 per cent, recorded in June 2017. But that has now tumbled to the third-lowest spot, after the inflation print for September was revised downwards to 1.44 per cent from 1.54 per cent.

In addition to the GST rate cuts, inflat

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