Retail inflation eased to a five-month low last month, government data released Monday showed, driven by the sharpest moderation in vegetable prices since spring.

Core inflation, which excludes food and fuel, held roughly steady, suggesting the overall improvement was concentrated in volatile food categories rather than broader price pressure.

Economists said the reading modestly increases the odds of a rate cut at the central bank's next policy review, though most still expect a cautious, data-dependent approach.