New Delhi, Dec. 12 -- India's retail inflation inched up to 0.71% in November, from a record low of 0.25% in October due to narrowing food deflation and the fading impact of a favourable base effect.

The latest print is marginally lower than the 0.8% projection in a recent Mint poll of economists. With this, it marks the fourth instance in five months that headline inflation has stayed below the lower bound of the Reserve Bank of India's 2-6% target band.

Food inflation, which has remained in negative territory since June this year and accounts for almost 40% of the Consumer Price Index basket, remains the key driver of the ultra-low inflationary trend.

In November, food inflation came in at -3.91%, lower than the -5.02% print in Octob...