Statsguru: CPI falls to 17-month low, industrial activity at 11-month high

Food index contracts for second straight month, core inflation also moderates

Leading economic indicators show improved performance over the past few months. Retail inflation rate fell to a 17-month low in November while industrial activity grew at an 11-month high in Octobr, according to the latest data released by the Central Statistics Office (CSO). 

On the inflation front, the consumer price index (CPI) fell to 2.33 per cent in November, from 3.38 per cent in October (Chart 1), well below the Monetary Policy committee’s target. In large part, the decline in headline inflation rate was driven by the contraction in the food price index, though even core inflation, which has remained