Kolkata, Oct 14 As India’s retail inflation (CPI) drops to a 99-month low of 1.5 per cent in September, shoppers and businesses in Kolkata are already experiencing relief ahead of the festive season. With food inflation softening to just 1.4 per cent, and recent GST rationalisation efforts, consumers are feeling more confident about spending, while shopkeepers are witnessing a noticeable rise in footfall.
The Reserve Bank of India has also revised its inflation forecast for FY 2025-26 downward to 2.6 per cent, signalling a period of price stability. According to SBI’s latest report, the CPI could dip even further — possibly below 0.5 per cent in the coming month — boosting sentiment among both consumers and traders.
Ajay Madnani, a local shopkeeper, says customer traffic has clearly improved since the GST adjustments. "After September 22, prices of essential items have come down. Customers are getting goods at lower rates and are buying more,” he says. “People always need daily essentials, but now that it's more affordable, they’re purchasing in larger quantities. The trend is looking positive, and I expect further growth in business."
For customers like Biswadeep Sarkar, the change is evident, though he notes it's still early to judge the full festive impact. "Prices have definitely stabilised. GST reductions have brought prices down by at least 5 per cent. Since September, we’re seeing the difference," he shares.
"While the festive rush hasn’t fully picked up yet, the savings do help. If you save Rs 10 out of every Rs 100, that money can either be reinvested or spent, which in turn helps the economy."
As the Diwali season approaches, both consumers and businesses are hopeful that stable inflation and rationalised taxes will keep the momentum going. For middle-class families, this marks a rare phase of financial comfort — just in time for celebrations.
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