Arab Today, arab today june china inflation may top 6 percent
Last Updated : GMT 16:15:22
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June China inflation may top 6 percent

Arab Today, arab today

Arab Today, arab today June China inflation may top 6 percent

Beijing - UPI

China may see its June inflation top 6 percent, the highest in three years and far above the government\'s target of 4 percent, analysts said. The analysts said the consumer price index, the main gauge of inflation, continues to be driven by soaring food prices and living expenses, China Daily reported Tuesday. Food prices account for about 30 percent of the CPI. China International Capital Corp. Ltd. forecast CPI to be as high as 6.2 percent in June, up from 5.5 percent in May, the report said. Forecast from other investment bank economists also said the numbers would be higher than 6 percent, China Daily said. The June CPI will be announced on July 15. The People\'s Bank of China, the country\'s central bank, said inflation remains high although the economy continues to grow at a stable and relatively rapid pace. The bank said it will continue to maintain a \"prudent\" monetary stance and will use multiple tools to effectively manage liquidity and tame inflation. \"Economic and financial development still face complicated challenges,\" it said and warned there are still many risks ahead as the global economy recovers. \"The average CPI in the past 10 years has been 2.2 percent, and the figure may be 4.4 percent in the next 10 years,\" one expert said.

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