October retail inflation falls to record low of 5.52 percent

India's consumer price index-based inflation eased to a record low of 5.52 percent during October -- from 10.17 percent during the corresponding month last year -- on the back of lower food prices and fuel costs, government data showed Wednesday.

The retail inflation rate recorded is the lowest since India started computing consumer price index (CPI) in January 2012.

The retail inflation stood at 6.46 percent in September 2014.

Rural inflation stood at 5.52 percent versus 6.68 percent in September and urban inflation came down at 5.55 percent versus 6.34 percent in September.

The latest data assumes significance as Reserve Bank of India (RBI) had set a target for CPI inflation at eight percent by January 2015 and six percent by January 2016.

In October, vegetables inflation decelerated by 1.45 percent.

But Sugar became costlier by 0.37 percent year-on-year.

Also, milk and milk products became dearer by 10.79 percent and fruits became costlier by 17.49 percent.

Cereals became costlier by 6 percent. Prices of pulses jumped by 7.51 percent.