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India's retail inflation edged up marginally in November, in-line with expectations, while deflation in food prices narrowed.

The Consumer Price Based-inflation was 0.71%, according to data released by the Ministry of Statistics on Friday. Analysts tracked by Bloomberg had estimated the inflation at 0.7%.

In comparison, the CPI was 0.25% in October, the lowest-ever recorded by the government. The November 2024 retail inflation stood at 5.48%.

Retail inflation has remained well below the Reserve Bank of India's 4% target and +/-2% tolerance band for a third straight month and a second consecutive quarter. The central bank has slashed its inflation forecast in the current fiscal to 2% from 2.6% earlier.

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