Go Finance Reporting BEIJING-China recorded an inflation of 4.9 percent in February in a year on year (yoy). This figure is regarded as far from the official target of government efforts to control inflation.
The increased cost of food, housing, and other needs has become a major source of anxiety for consumers in this Bamboo Curtain country. The stability of policy makers worried that the stability of prolonged inflation could trigger social unrest.
Quoted by AFP on Friday (03/11/2011), consumer price index, a key gauge of inflation unchanged from January at up to 4.9 percent. This figure exceeds the government's annual inflation target of four percent.
Analysts had previously estimated inflation rose 4.8 percent due to lower vegetable prices, as well as the usual snowfall occurred throughout the dry northern China.
National Bureau of Statistics last month measure, a key inflation by reducing the weight of heavy food prices while improving rental and other housing costs.
Last week, Chinese Prime Minister Wen Jiabao said that to curb the price is a "top priority" of government in 2011, as a country that seeks to balance growth in the rate of eight percent.
"This issue is concern for the welfare of the people, and affect social stability. Therefore, we must make a priority in macroeconomic control to maintain stable price level entirely," he said. (GoFinance)
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