New Delhi, January 14: The sharp fall in fuel prices over the last two months has led to the retail inflation hitting an 18-month low. For the month of December, the Consumer Price Index (CPI) inflation was recorded at 2.19 per cent, down from 2.33 per cent in November. Apart from a low petrol and diesel rate, the reduction was contributed by the sliding prices of fruits and vegetable.

Comparing the numbers to the last year, analysts pointed out that in the corresponding period -- i.e. is December 2017 -- retail inflation had climbed to 5.21 per cent. Whereas, the last major dip was recorded in June 2017, when the consumer inflation had struck 1.46 per cent. Wholesale Inflation at 8-Month Low of 3.80 Per Cent in December on Softening Fuel, Food Prices.

According to the data released by the Ministry of Statistics and Programme Implementation, food inflation remained in the negative zone at 2.51 per cent compared to (-) 2.61 per cent in the November.

The rate of price rise in vegetables, fruits and protein-rich eggs continued to decline. However, there was a marginal increase in prices of meat, fish, and pulses.

Fuel and light inflation was 4.54 per cent in December, down from 7.39 per cent in November on back of reduction in prices of petrol and diesel.

Another data released earlier in the day showed that inflation based on wholesale prices fell to an eight-month low of 3.80 per cent in December, 2018, on softening prices of fuel and some food items.

The Wholesale Price Index-based inflation stood at 4.64 per cent in November 2018 and 3.58 per cent in December 2017.

(With PTI inputs)

(The above story first appeared on LatestLY on Jan 14, 2019 06:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).