Go Finance Reporting in WASHINGTON - Donors, International Monetary Fund (IMF) believes inflation in China will show a figure of four percent at the end of this year.
IMF Mission Chief for China Nigel Chalk, in a press conference in Washington, said credit growth in China declined in the first quarter of this year. "Inflation is expected to decline this year, approximately four percent," he said, as quoted by AFP on Sunday (04/17/2011).
On Friday, the Chinese government reported consumer price index rose 5.4 percent compared to March last year. The biggest fear China as a country with the second largest economy after America is inflation in the sectors of food, fuel and commodity prices continue to soar around the world.
However, the IMF said that the Chinese government has made it a priority to fight inflation and make policy for the prices to move slow.
IMF director for Asia and the Pacific Anoop Singh predict, inflation in China will soon reach the top but will soon drop at the end of the year. "We can ensure that steps taken by China so far will increase until they are convinced that inflation is down at the end of the year," he concluded. (GoFinance)
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