According to the CPI data released by the government on Monday, inflation in the food basket was 9.43 per cent in November, down from 11 per cent in the previous month.

The RBI, which mainly factors in retail inflation while arriving at key policy rates, has been mandated by the government to keep inflation at 4 per cent (+, - 2 per cent). The central bank had maintained status quo in the policy rate earlier this month due to high inflation.

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