Data due at 1200 GMT Dec. 12

BENGALURU, Dec 9 Reuters India consumer price inflation likely cooled to a ninemonth low of 6.40 in November mainly due to a moderation in food prices, according to a Reuters poll of economists.

Inflation has stayed above the upper end of the Reserve Bank of India39;s 26 tolerance band all year and this has triggered 225 basis points of interest rate rises to the repo rate so far, taking it to 6.25.

If the inflation forecast is correct, the decline would take it to where it was just before Russia invaded Ukraine in February, which sent global food and commodity prices soaring.

Food prices alone account for nearly 40 of the consumer price index CPI basket in Asia39;s third largest economy.

The Dec. 58 Reuters poll of 45 economists predicted the second consecutive decline in inflation to an annual 6.40 from 6.77 in October. Forecasts were in a 6.007.02 range.

We will continue to see inflation falling. Lower food prices, especially vegetables, and stable energy and gasoline prices should see India39;s headline inflation index dropping to a level roughly in line with policy interest rates, noted Robert Carnell, head of ING39;s AsiaPacific research.

The RBI raised interest rates by a smaller 35 basis points on Wednesday following three successive 50basispoint rises and is due to raise them again by 25 basis points early in 2023.

The central bank maintained its inflation forecast for financial year 202223 at 6.7, the same as a recent…