Inflation based on wholesale prices fell to a three-month low of 4.64% in November, as prices of food articles, especially vegetables, softened. The Wholesale Price Index (WPI)-based inflation was 5.28% in October and 4.02% in November last year. According to the government data released today, food articles witnessed softening of prices with deflation at 3.31% in November, against 1.49% in October. Here's more. Vegetables, too, became cheaper with deflation at 26.98% in November, compared to 18.65% in the previous month. Inflation in the 'fuel and power' basket in November continued to rule high at 16.28% but was lower than 18.44% in October. Individually, in petrol and diesel, it was 12.06% and 20.16%, respectively, and for liquefied petroleum gas (LPG) it was 23.22% during October. Among food articles, potato prices continued to rule high with 86.45% inflation in November. The 4.64% inflation is the lowest in three months, and a lower inflation than this was last seen in August at 4.62%. Data released earlier this week showed that the retail or consumer price index (CPI)-based inflation for November also fell to a 17-month low at 2.33%. In its fifth monetary policy review for the fiscal, released last week, the RBI kept interest rates unchanged but held out a promise to cut them if the upside risks to inflation do not materialize. RBI lowered retail inflation projection to 2.7-3.2% for the second half of the current fiscal. The central bank mainly takes into account retail inflation data while formulating monetary policy.