India’s retail inflation dropped to an eight-year low below 0.5% in October as food prices turned negative for the fourth consecutive month. Analysts at Union Bank credited the decline to GST-driven efficiencies, high-base effects, and improved rural supply chains. The report trimmed FY26 CPI projections to 2.6%, citing favorable monsoon patterns and stable crude. Economists suggest the data strengthens the RBI’s easing case early next year. Market participants now expect incremental liquidity measures to sustain credit momentum.