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  • (0810 CR M02)NDRC: CHINA INFLATION IS UNDER CONTROL

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(0810 CR M02)NDRC: CHINA INFLATION IS UNDER CONTROL

From Xinhua News Agency: (0810 CR M02)NDRC: CHINA INFLATION IS UNDER CONTROLDATELINE: Aug. 10, 2011LENGTH: 00:01:38PKGChina's consumer prices are currently within a mild and controllable range after measures to fight inflation have demonstrated some initial effect.A senior official of the National Development and Reform Commission or NDRC made the remarks on Tuesday. China Report explains.Zhou Wangjun, vice director of the commission's pricing department, said that the current round of inflation is approaching a turning point after rising 25 months.And price rises will likely ease for the rest of the year. Zhou made the comments after the National Bureau of Statistics said that inflation escalated to a 37-month high of 6.5 percent year-on-year in July, driven by a 14.8 percent surge in food costs. He expects food prices will remain high in the second half of this year, but the overall price level will fall due to the quick fading of carry-over effects since August.However, he warned of a big possibility Powered by www.newslook.com

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