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News Summary: India inflation up to 7.8 pct.

FUEL-FIRED: India's inflation rate accelerated to 7.8 percent in September after the government hiked subsidized fuel prices to rein in the budget deficit.

RATE AND A HARD PLACE: The number is worse than expected and gives the central bank little room to cut its key interest rate to counter slowing economic growth when it meets later this month.

CENTRAL BANK SENSE: The Reserve Bank of India has made clear that inflation remains its top concern, despite the tepid growth of Asia's third-largest economy.