MC
Inflationary risks continue to persist keeping the Centre and the Reserve Bank of India (RBI) on high alert, the finance ministry’s monthly economic report for October released on November 21 has said.
However, the recent decline in international crude oil prices and continued moderation in core inflation are likely to control inflationary pressures, the report said. The central bank has also recognised this development evident from the indication that any further tightening of monetary policy would likely occur when the transmission was closer to completion and if the situation warranted, it said.
India’s crude oil basket has averaged $83.93 a barrel in November so far, compared with $90.08 a barrel in October, government data shows.
