Ahead of the January inflation readings later this week, Reserve Bank Governor D Subbarao today said the price rise index which slowed to a three-year low of 7.18 per cent in December, is still high. The RBI Governor said this at a convocation of the RBI-promoted Indira GandhiInstitute of Development Research in Mumbai. He said the forthcoming inflation numbers are important as they come after the January 29 policy easing and government partially freed diesel prices in the middle of January by allowing oil companies to raise retail diesel by 40-50 paise every month.