August 1, 2013 / 6:22 AM / 4 years ago

India cbank chief: high consumer inflation due to cyclical problems

CHENNAI, Aug 1 (Reuters) - Reserve Bank of India Governor Duvvuri Subbarao said on Thursday high consumer price inflation is due to cyclical and distributional problems.

India’s annual consumer price inflation picked up in June to 9.87 percent, after slowing for three straight months.

However, at demand level, the inflation has come down, he said. Some sacrifice of growth in the short-term is inevitable while trying to bring down inflation, he added. (Reporting by Neha Dasgupta; Editing by Sunil Nair)

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