China expects inflation to hit 10-year high in '07
China expects its inflation to shoot to a 10-year high of 4.5-4.6% this year, due mainly to soaring food prices.
By Agencies |
BEIJING: China expects its inflation to shoot to a 10-year high of 4.5 to 4.6 per cent this year, due mainly to soaring food prices, state media said Friday.
Rising crude oil prices are also pushing up inflation, the China Securities Journal reported, citing Xie Fuzhan, the head of the National Statistics Bureau.
Overall inflation reached 4.4 per cent in the first 10 months of the year, well above the three-per cent official target set at the start of 2007.
Xie forecast that economic growth would come in at 11.5 percent this year, repeating a forecast made by Premier Wen Jiabao earlier this week.
Rising crude oil prices are also pushing up inflation, the China Securities Journal reported, citing Xie Fuzhan, the head of the National Statistics Bureau.
Overall inflation reached 4.4 per cent in the first 10 months of the year, well above the three-per cent official target set at the start of 2007.
Xie forecast that economic growth would come in at 11.5 percent this year, repeating a forecast made by Premier Wen Jiabao earlier this week.
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