India's Retail Inflation Plummets to Record Low: Did GST Cuts Boost Demand?

India's retail inflation plummeted to a record low of 0.25% in October and 0.71% in November, largely due to a sharp decline in food prices.The recent cuts in Goods and Services Tax (GST) rates contributed to this disinflation trend, especially in October when the revised rates were fully implemented for the first time.An analysis byMintshows that nearly 40% of items saw a month-on-month price decline during this period.But, did this boost demand? Let's see.