Reserve Bank of India governor D. Subbarao has said a little sacrifice in growth is inevitable, amid efforts to bring down prices to acceptable levels. But he also said that the sacrifice of growth is only in the short term. In the medium term, a low and stable inflation is a necessary precondition for securing India's growth prospects, Subbarao, said during a lecture at the Asia Society on 'India in a Globalizing World – Some Policy Dilemmas', in New York, yesterday. Noting that inflation was down from 11 per cent in 2010, to below 7 per cent in July this year, Subbarao said inflation could have been much higher if RBI had not run a tight policy. He said the challenge for the RBI is to ensure inflation is reined in without hurting growth.