Retail inflation at 17-month low

he consumer price index for October this year was, however, revised slightly upwards at 3.38 per cent from 3.31 per cent earlier, data from the CSO showed."The fall was due in large part to another sharp drop in food inflation. Core inflation edged down but, at 5.8 per cent year-on-year, remained close to its highest rate in four years," a note prepared by Capital Economics said.However, the note added: "We're more concerned about the outlook further ahead. Recent oil price fall will keep a lid on headline inflation. But it is likely that core inflation will remain elevated, which arguably is a better gauge of underlying price pressure." Dailyhunthttps://www.mobypicture.com/user/zeevakeeno