Finance Ministry pins hope on falling oil prices to keep inflation in check ...Middle East

New Delhi: Inflationary risks continue to persist keeping the Centre and the Reserve Bank of India (RBI) on high alert, according to the finance ministry’s monthly economic report for October released on Tuesday. However, a decline in international crude oil prices will help control inflationary pressures going forward, the report states. The country’s retail inflation in October slowed to a four-month low of 4.87 per cent, falling closer to the RBI’s target of 4 per cent. The average price of India’s crude oil imports works out to $83.93 a barrel in November so far, down from $90.08 a barrel in October, official figures show. “The decline in international crude oil prices and continued mod

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