This marks the third time in FY26 that inflation has stayed below the central bank's target range of 4% with a margin of two percentage points on either side of that figure. Inflation based on the Consumer Price Index (CPI) was 1.4% in September and 6.2% in October 2024. "The positive impact of the GST rationalisation and deflation in the food and beverages category supported the lower inflation print," said Rajani Sinha, chief economist at CareEdge Ratings.