Inflation at 7.61%, FM talks of more steps

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New Delhi, May 9::

"We are in the process of persuading the cement companies to roll back prices. If that succeeds, that will also be an administrative step," he said, adding he expected inflation to moderate once the various measures kicked in.

The government faces a string of state polls this year and a national election by May 2009. Those prospects, plus rising prices -- especially of food and metals -- have dominated the media headlines in recent weeks.

The central bank has also stepped in to try to control price rises, although economists say there is a limit to what it can do, largely because inflation stems from supply constraints not domestic demand.