SHANGHAI (MarketWatch) — China’s consumer price index is likely to increase 4.8% this year, the state-run China Securities Journal reported Monday, citing Li Daokui, an adviser to the People’s Bank of China.
China’s inflation rate may have peaked in June and will likely slow down in the second half of the year, the newspaper quoted Li as saying.
China’s CPI rose 6.4% in June from a year earlier, the biggest monthly rise since June of 2008.
Li expected China’s CPI will increase 2.7% in 2012, according to the report.
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