Indian inflation remains stubbornly high
Annual inflation in India stayed stubbornly high at 9.11 percent in November, down marginally from 9.73 percent the month before, government data showed on Wednesday.
The closely-watched Wholesale Price Index has been close to double figures for months, heaping pressure on the government and the central bank, which has aggressively raised interest rates to no avail.
Revised data for September showed inflation had broken into double figures, reaching 10.0 percent.
The "sustained high level of inflation, which has been a major policy concern for us in the last two years, is now beginning to moderate", Finance Minister Pranab Mukherjee said Wednesday.
Indian policymakers must now shift their focus from battling inflation to reviving economic growth, which fell to 6.9 percent in the July-September quarter, he said.
DK Joshi, chief economist with Indian ratings firm Crisil, told AFP the fall in November inflation would not be enough for the central bank to start cutting lending rates to spur activity.
Policymakers from the Reserve Bank of India meet in financial hub Mumbai on Friday, with analysts and economists expecting them to hold rates.