New Delhi, Dec 12: India’s year-on-year inflation rate, based on the Consumer Price Index (CPI), was estimated at 0.71 per cent for November this year which was marginally higher than the 0.25 per cent in October, according to figures released by the Ministry of Statistics on Friday.

Food inflation stayed in the negative zone during November at (-) 3.91 per cent as prices of food goods fell compared to the same month of the previous year. Food inflation has now stayed negative for the sixth month in a row, easing the burden on household budgets.

However, the increase in headline inflation during November 2025 is mainly attributed to an increase in the inflation of vegetables, eggs, meat and fish, spices, and fuels compared to October, according to an official statement.

The retail inflation had eased further in October, after having plummeted to an over 8-year low of 1.54 per cent in September, as prices of food items and goods across sectors fell during the month.

The declining trend in food prices continued in October as food inflation fell deeper in the negative zone at (-) 5.02 per cent from (-) 2.28 per cent in September.

However, the overall outlook for inflation remains benign.

The RBI’s monetary policy committee (MPC) last week slashed its forecast for India’s inflation rate for the financial year 2025-26 to 2 per cent from 2.6 per cent predicted in October due to the sharp decline in food prices and the GST rate cuts playing out.

RBI Governor Sanjay Malhotra announced a reduction in the repo rate by 25 basis points to 5.25 per cent from 5.5 per cent earlier, as inflation had come down and the monetary policy could focus on boosting growth.

Malhotra said that the surge in economic growth to 8.2 per cent in the second quarter of the current financial year and the sharp decline in inflation to 1.7 per cent had provided a rare “Goldilocks period” for the Indian economy.

“The MPC noted that headline inflation has eased significantly and is likely to be softer than the earlier projections, primarily on account of the exceptionally benign food prices. Reflecting these favourable conditions, the projections for average headline inflation in 2025-26 and Q1:2026-27 have been further revised downwards.”

Malhotra also pointed out that core inflation (which excludes food and fuel) remained largely contained in September-October, despite continued price pressures exerted by precious metals. Excluding gold, core inflation moderated to 2.6 per cent in October. Overall, the decline in inflation has become more generalised, he added.

The RBI Governor observed that food supply prospects have improved on the back of higher kharif production, healthy rabi sowing, adequate reservoir levels and conducive soil moisture. Barring some metals, international commodity prices are likely to moderate going forward.

Mumbai, Dec 12: Indian stock markets gained for the second straight session on Friday, supported by a strong global rally and heavy buying in metal stocks.

Sentiment also improved after Prime Minister Narendra Modi spoke with US President Donald Trump on Thursday to discuss strengthening economic ties, as both countries continue working toward a trade agreement.

At the closing bell, the Sensex had risen 449.53 points, or 0.53 per cent, to 85,267.66.

The Nifty also moved higher, adding 148.40 points, or 0.57 per cent, to trade at 26,046.95.

“In the near term, the trend is likely to remain constructive as long as the index holds above 25,900, which is expected to serve as a key support level,” experts said.

“On the higher side, the index may move towards 26,300 in the short term,” they added.

Several major stocks led the gains on the Nifty, including Tata Steel, Eternal, UltraTech Cement, L&T, Maruti Suzuki, Bharti Airtel, Adani Ports, Axis Bank and Bajaj Finance.

However, some stocks came under pressure due to profit booking. HUL, Sun Pharma, Asian Paints, ITC, Power Grid and HCL Tech were among the top losers.

In the broader markets, the Nifty MidCap index rose 1.18 per cent, while the Nifty SmallCap index advanced 0.94 per cent.

Sector-wise, the Nifty Metal index led the rally with a jump of 2.63 per cent, followed by realty, consumer durables and oil and gas. The FMCG and media sectors slipped into the red.

Meanwhile, silver prices in India continued their sharp upward trend. Silver futures crossed the historic Rs 2 lakh per kg mark for the first time on Friday, extending a rally that has pushed the metal up nearly 130 per cent so far this year.

Experts said that the combined boost from global cues, strong sectoral performance and improving geopolitical engagement helped the markets end the week on a positive note.

Thane: The Anti-Extortion Squad of the Crime Branch, Thane, acting on secret information, raided a gang involved in the illegal sale of Mephedrone (M.D.) and arrested two accused. Police seized 108.8 grams of Mephedrone worth Rs 10.88 lakh, a country-made pistol, and a live cartridge—totaling Rs 11.41 lakh.

According to the sequence of events, on the night of December 8 around 10:50 PM, the police team raided Shri Gajanan Residency in Adavali-Dhokali, Kalyan East, and caught Aakib Iqbal Bagwan (33). A large quantity of M.D. and an unlicensed country-made pistol were recovered from his possession. Further probe revealed that Bagwan was already wanted in two NDPS cases at Bazarpeth Police Station, Kalyan.

During interrogation, Bagwan disclosed that the pistol was supplied to him by Bharat Shatrughna Yadav. Using technical investigation and confidential sources, the police detained Yadav as well. A live cartridge was recovered from him during the search.

A case has been registered against both the accused at Manpada Police Station under relevant sections of the NDPS Act, the Indian Arms Act, and the Maharashtra Police Act.

The operation was carried out under the guidance of DCP Amarsingh Jadhav and ACP Vinay Ghorpade by Senior Police Inspector Shailesh Salvi, Assistant Police Inspector Sunil Tarmale, and team members Bhosle, Kanade, Thakur, Rathod, Shinde, Patil, Gaikwad, Jadhav, Gadge, Pavaskar, Hivare, Waykar, Shejwal, and Bhosle.